According to a latest research report by Gartner, BPM industry of APAC region excluding Japan is forecasted to reach US $9.5 billion by 2016. The new figure released is up from $5.9 billion in 2011. It is expected that the BPM industry in APAC will reach US $6.45 billion this year. According to Gartner, the BPM market in APAC is still underdeveloped and underexploited when compared with other emerging and established BPM destinations.
Gartner is a leading information technology and research and advisory firm. They provide detailed insight to the trends that is happening in the market for their clients. The report titled “Market Trends: How to profit from BPO services in Asia/Pacific, 2012” reveals the latest trends in the business process management industry in Asia-Pacific region. The scope of the report extends to finding the key trends that are currently influencing and that are likely to influence the business process management market in the Asia-Pacific regions. The report covers the BPM providers and their service offerings in APAC regions except that of Japan.
The report states that the business process management market in the APAC region remains a lucrative market. According to the report, the business process management market is still untapped and under developed posing high growth opportunities for the players in the industry in APAC region. The report states that the BPM service buyers in the Asia-Pacific regions are still struggling with issues like revenue growth, market share gains, scalability, better cost management and quality of service. As a result the BPM buyers not only focus on cost factor but also on scalability, quality, technology infusion and improved service delivery.
Key highlights of the report
- The BPM market in APAC region is forecasted to reach US $9.5 billion by 2016 and is expected to reach US $6.45 billion by the end of 2012.
- The largest BPM market in Asia-Pacific region was Australia which accounted for US $4.65 billion of total market followed by India (US $1.26 million market).
- India and China remains the fastest growing BPM markets in the APAC region.
- The BPM market in APAC region is dominated by global and Indian service providers and consists of local, regional and multinational service providers.
- According to the report, even though the market is dominated by Indian and global giants, there is also an increase in the growth of regional and niche BPM providers.
- No single BPM providers in the APAC region dominate in every type of BPM services and according to the research analysts only a few of the BPM providers demonstrate success in all types of BPM service offerings.
- BFSI, communications, government, technology, retails, travel and transportation remains the largest consumers of BPM services in APAC regions.
Further the report also states that the service providers in the APAC region are likely to face higher wages and attrition in the near future as a result of increasing demand for talent from domestic as well as offshore market.
You can view the details of the report by following the link.