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Chasing the Tigers
Ian Whittingham, PMP is director of Calixo Consulting, providing project and program management expertise from initiation through to implementation, covering business transformation, workflow process re-engineering, and enterprise data integration. He is a regular contributor to ProjectManagement.com. You may contact Ian directly at [email protected].
Together, the twin tigers of outsourcing are forecast to account for nearly 16 percent of the $297 billion global ITC, BPO and call center services market by the end of 2007, according to a recent study published by Canadian research and advisory consultants XMG, Inc.
With 11.5 percent of the market, India continues to command the largest share of any participant in global outsourcing, with $34.1 billion in expected revenues this year, followed by China, with 4.4 percent of the global market (valued at $13.1 billion).
But who are chasing the tigers? Currently going head-to-head for third place are the Philippines, whose 1.4 percent share is valued at $4.1 billion, and Malaysia, with $3.6 (1.2 percent share). Although this represents only a $500 million difference in forecast revenues, the compound annual growth rate (CAGR) of the Philippines’ outsourcing industry indicates significant and aggressive expansion over the past 12 months.
While their market share was just about equal in 2006--with Malaysia slightly ahead at 1.04 percent versus the Philippines’ 1.02 percent--the latter is now expected to record a CAGR of 62 percent this year, versus China’s 47.9 percent CAGR, and India’s forecast CAGR of 29.5 percent. In 2006, BPO services accounted for around 94 percent of the Philippines’ outsourcing revenues ($2.4bn), while…
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