Europe: The next big geo for IT outsourcing
North America has been the hottest source for the IT-BPO industry in India and it still is with 70% contribution. Europe on the other hand, despite the turmoil in some parts of it, will change this soon.
The Germanic region (Germany, Austria and Switzerland) represent a $53 billion market. And BPO alone is estimated to be around $4 billion. NASSCOM studies show that the European market is looking for ways to cut costs and improve quality while increasing their competitiveness. This is a huge opportunity for the Indian IT-BPO.
The English language based business processes from the UK, Continental Europe and Asia-pacific represent a market opportunity of $45-75 billion. India can build on this opportunity by developing a near shore presence, strengthening their language & cultural capabilities, and provide distinctive value propositions. The study further says that the SME sector is largely untapped and there is a huge demand for them in the Germanic market.
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