Findings from a recently released study, report that the demand for services in the BPO sector continues to grow in Brazil. The research is based on the year 2011. This new market research report reveals a concrete growth across all regions of the outsourcing industry in Brazil.
In addition, new contracts were set up, thereby fostering greater economical growth. This growth is predicted to continue as companies are less concerned about losing their markets, in the wake of successful implementations and stories of achievements that keep pouring in.
The Brazilian Information Technology sector produced a turnover of US$ 85.1 billion in 2010, which is the eighth largest in the world. Brazil is poised to become one of the five major IT centers by the year 2022.
The domestic Information and Communication Technology (ICT) market in Brazil accounts for 8% of Gross Domestic Product (GDP), which is the seventh largest in the world. It brought in revenue of US$ 165.7 billion in 2010. Innovation and intensive use of the latest technologies have aided the growth of this country as a major BPO destination.
Demand for outsourcing services to go up in Brazil
The revenue for the Brazilian CRM BPO and outsourcing services market showed a growth in 2011. The compound annual growth rate (CAGR) of this sector has been estimated for the period 2011-2018. The total income for the industry has also been calculated with respect to the year 2018. The total number of positions with respect to the number of workstations has also been indicated in the report.
The study also presents the overall CAGR for the period 2011-2018. The choice of Brazil as an outsourcing destination is ideal for countries with a strategy for the South American markets. As per a report released in the March 25th edition of the India Today magazine, India has lost 30,000 jobs to Brazil in the last 5 years.
According to this research analysis, the domestic market will remain the key source of revenue for most of the Brazilian providers. Exceptions include some companies that have their focus centered exclusively on the offshore market.
This South-American nation, which is the fifth largest in the world, is expected to take a giant leap from being the seventh to the fifth largest economy during this decade.
This makes it possible for the BPO sector also to grow in leaps and bounds since the Brazilian industry holds sway over an ideal knowledge base blended with the right technical expertise and innovation to work in that direction.