In 2014, we’re expecting a full recovery to historical levels of service provider setups, and GIC setup is surging as well.
Dallas, Texas (PRWEB) November 13, 2014
Global services exports are growing in 2014, 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).
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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“In 2013, we witnessed a decline in global sourcing activity, driven by intensifying macroeconomic pressures in the traditionally dominant source markets of North America and Western Europe,” said H. Karthik, partner at Everest Group and leader of Everest Group’s Global Sourcing practice. “This was particularly apparent with regard to new center set-up activity by service providers, which was the lowest it had been in five years. However, in 2014, we’re expecting a full recovery to historical levels of service provider setups, and GIC setup is surging as well.”
Download Publication-Quality Graphics
High-resolution graphics illustrating the report’s key takeaways can be included in news coverage, with attribution to Everest Group. Graphics include:
● Global services market poised for growth
● Global services players increasingly leveraging tier-2/3 locations
● Proportion of onshore delivery center set-ups nearly doubled from 2012 to H1 2014
● Maturity-Arbitrage-Potential (MAP) Matrix™ — IT-ADM
● Maturity-Arbitrage-Potential (MAP) Matrix™ — Transaction-intensive BPS
About Everest Group
Everest Group, an advisor to business leaders on the next generation of global services, has a worldwide reputation for helping Global 1000 firms improve performance by optimizing back- and middle-office business services. Through practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Visit http://www.everestgrp.com and research.everestgrp.com.