Indian domestic process management services market is expected to reach $683m in 2010, an increase of 31.1% compared to $521m in 2009, according to IT research and advisory firm Gartner.
Gartner said that large scale outsourcing of process management will promote growth in the Indian domestic IT and IT-enabled services (ITES) industry. It estimates process management services revenue in India to reach $1.6bn in 2014.
The market researcher said that large scale outsourcing of process management will bring in the next wave of growth in the Indian domestic IT/IT-enabled services (ITES) industry. High economic growth, competitive pressure, agility, time to market, innovation and adoption across verticals and breadth of services will be driving this high growth rate in this segment.
The firm said process management services that are currently restricted to telecommunications, banking and financial services sectors, are likely to be adopted in verticals such as government, utilities, healthcare and retail.
Arup Roy, senior research analyst at Gartner, said: "IT services spending will continue to shift from discrete spending to outsourcing in 2010. New avenues of growth will open in the mid-market and in up-selling. The entry of new hybrid providers will blur the lines between product and IT services and offerings will move from traditional to utility, ‘as-a-service’ to cloud-based delivery models.
"India domestic market is still heavily dominated by voice-based services. Most of the BPO work is around contact centre type of work catering to customer care and sales/marketing services. This is likely to expand into other service lines such as HR process outsourcing, finance and accounting, analytics and other niche services."
