Kelleys Island, Ohio (PressExposure) February 21, 2011 -- Nora Bieberstein of the Miracle Group reports on recent announcements coming from the recent NASSCOM conference on outsourcing trends, which took place in India. She summarizes the outcome of the reports as: (as seen here: http://www.miraclegroup.com/blogs/analysts-predict-glory-days-for-offshore-outsourcing-.html)
The global economy is recovering; consumers are willing to spend more and conclusively company revenues increase. This is a great precondition for the offshore outsourcing industry to grow along. Already at the annual NASSCOM conference over three days in India, experts expressed their optimism for the ongoing fiscal year. Recently published research confirms a positive outlook.
New research by Everest Group confirms the predictions made by NASSCOM. The Everest study reveals that the recovering global economy encourages more and more companies to outsource their services. Especially the sectors of information technology outsourcing (ITO) and business process outsourcing (BPO) will witness accelerated revenues.
In the last quarter of 2010, statistics underline that the IT outsourcing market improved its value by 16% compared to the foregoing quarter. According to the Everest researchers, this growth is due to the circumstance that recovering companies now use the opportunity to update their sourcing portfolios and reorganize their sourcing strategies in order to stay competitive.
Optimistic market experts further forecast ITO and BPO export revenues in India of almost $60 billion which would mean 18.7% growth compared to the previous fiscal year. This expectation strengthens the NASSCOM outlook of last week. Analysts are especially positive towards the trend of multi-sourcing that implies the distribution of IT related service development among various offshore suppliers rather than just one.
Considering the outlook for the ongoing decade according to NASSCOM, IT outsourcing exports in India are expected to grow rapidly to $ 175 billion by 2020. Regarding the global IT outsourcing market, experts forecast a raise from contemporarily $ 500 billion to $1.5 trillion to $1.6 trillion by 2020.
We follow outsourcing trends very closely and always curious to see what "experts" predict for the future. To follow our own predictions, visit us at [http://insideoutsourcing.org].