India's IT-BPO market may touch $285
bn in 2020: Report MUMBAI:
|
India's IT-BPO market (including exports)
could touch USD 285 billion in 2020 growing at a CAGR of
15 per cent, according to a report The IT-BPO industry in
India has achieved impressive growth rates over the past
decade and stood at USD 71.6 billion in 2009, said the report
prepared by KPMG and ASOCIO (Asian-Oceanian Computing Industry
Organisation).
The report, `Asia-Oceania Vision 2020: Enabling IT Leadership
Through Collaboration' was released here today at NASSCOM
India Leadership Forum 2010. India is the current market
leader in global sourcing supply, serving approximately
51 per cent of overall global sourcing demand. The IT-BPO
industry in India has achieved impressive growth rates over
the past decade and stood at USD 71.6 billion in 2009, said
the report prepared by KPMG and ASOCIO (Asian-Oceanian Computing
Industry Organisation). The report, `Asia-Oceania Vision
2020: Enabling IT Leadership Through Collaboration' was
released here today at NASSCOM India Leadership Forum 2010.
India is the current market leader in global sourcing supply,
serving approximately 51 per cent of overall global sourcing
demand. "India is expected to achieve double-digit growth
in the IT-BPO industry, with a focus on innovation. The
country, however, needs to sustain cost competitiveness
and develop the requisite skills of its large workforce,"
Kumar Parakala, Global Head of Sourcing Advisory, KPMG in
India, said. "India could also develop complementary skills
in hardware, so that it can showcase a more diversified
portfolio of products and services." The report highlighted
that the composition of demand will undergo a change from
2008 to 2020. The contribution of some of the developed
countries like Japan, Australia and New Zealand in the regional
demand for IT-BPO service is likely to decrease.
However, the contribution of developing countries like India
and Thailand is expected to increase in the coming years.
Countries such as Sri Lanka, Pakistan and Bangladesh are
also expected to make their mark on the global sourcing
supply landscape by 2020, it said. According to NASSCOM,
the Indian IT-BPO industry should aim to drive innovation,
in addition to retaining its competitiveness. In order to
successfully achieve its goal, key stakeholders of the Indian
IT-BPO industry need to address the issues currently faced
by the industry.
One of the focus areas of the KPMG-ASOCIO report was to
identify the potential for effective collaboration among
countries of the Asia-Oceania region. The report emphasises
that if diversity within the region is effectively leveraged
it could lead to collaborative growth. Collaboration is
likely to act as a facilitator for nations to address common
challenges, leverage each others' competitive advantage
and thereby aim for a much larger target market in the Information,
Communication and Technology (ICT) industry by 2020, it
said.
"ICT based transformation would be a major enabler of socio-economic
transformation of Asia. We foresee an emergence of a diverse
set of globally competitive IT organisations in the region,
which would be the key enablers of this IT-based transformation,"
ASOCIO President Ashank Desai said. |
