Global services exports are growing in 2014, according to recent research from Everest Research, after a slight decline of year-to-year growth rate in 2013. Based on annual revenue estimates reported for 2014, the global services market is expected to grow 9 to 11 percent (exceeding US$148 billion).
Investments in mature locations remain strong although buyers and service providers continue exploring uncharted territories in search of competitive advantage.
Growth is being driven by improved macroeconomic sentiments in North America and Europe. Investments in emerging locations such as Israel, Bulgaria, Jamaica, Guatemala, and Trinidad and Tobago also will spur growth.
The mature APAC region remains dominant, with more than 60 percent of the share of global services, both in terms of revenue and FTEs, with India and Philippines accounting for more than 90 percent of the share in that region.
These findings and more are discussed in the report, “Global Locations Annual Report 2014: Expanding Frontiers and Maturation.” The report offers insights into the size and growth of the global services market, global services exports by regions and country, update of locations activity by region and country, and trends affecting global locations.
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