APAC BPO Market Shows Growth in Q3
The Business Process Outsourcing (BPO) industry in the Asia Pacific Region (APAC) continues to boom a year and a half into the pandemic.
Data from technology research and advisory firm Information Services Group (ISG) showed that the BPO industry in the region grew by 18% in the third quarter.
APAC’s outsourcing industry also grew a whopping 178% compared to the numbers last year.
The research firm said the market strengthened in engineering, research and development, and industry-leading services.
ISG President Steve Hall believes that the continuous growth in the outsourcing market is a sign of a “real structure shift.”
“This is not just pent-up demand coming out of the pandemic, but a real structural shift for the market as enterprise customers accelerate their digital transformation strategies, modernise their legacy environments and move to the cloud,” he said.
IT outsourcing, meanwhile, slowed down, posting an annual contract value of US$405 million in the third quarter.
While IT outsourcing in APAC posted a 51% decline from Q2, it is still 29% higher compared to the same quarter in 2020.
Managed Services in the region also dipped by 40% from Q2, posting an annual contract value of US$575 million.
The research and advisory firm also noted that the global BPO market surged to 32% to a record US$2.3 billion in the third quarter of the year.
Outsourcing IT and Engineering to the Philippines
In the Asia Pacific region, the Philippines is one of the top outsourcing destinations for IT and engineering services.
With over 70,000 engineering graduates produced yearly, the Philippine labour pool is teeming with top engineering talent.
Outsourcing engineering services to the Philippines can allow companies to keep up with multiple deadlines or expand their limited resources in a cost-efficient manner.
Many outsourcing partners offer flexible solutions that allow organisations to customise their offshore teams.
Roles that are usually outsourced to the Philippines include civil engineer, structural engineer, project engineer, industrial engineer, electrical engineer, and more.
Meanwhile, the Philippines also produces over 150,000 IT graduates each year, powering the continuous expansion of IT services in the country.
Outsourcing firms in Manila are equipped to help companies build teams like to handle Network Operations Centre, Service Desk, Software or Web Development, Information Security, and Database Administration.
IT roles that are usually outsourced to the Philippines include software developer, software engineer, network engineer, solutions architect, web developer, front-end developer, full-stack developer, mobile developer, UI/UX designer, and more.
Outsourcing IT services has enabled organisations across the globe to tap into highly qualified talent that would be otherwise not available in their vicinity, helping them meet their targets and achieve growth.