Growth of the Software and BPO Services Market in Low Cost Economies

Software services include application software programming services, computer program (software) development, computer software support services and web design services. Software service companies’ document, design, create, test and maintain applications, using a planned and structured process.

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The global software and BPO services market has shown a rapid growth in the past years with a CAGR of just over 8%. The year 2017 recorded highest ever market value in this industry as per TBRC’s inhouse consultants.

TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.

The report also shows the global software and BPO services market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.

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The software services industry saw phenomenal growth in low cost economies. Many companies outsourced software development services to their offshore centers to capitalize on the availability of highly skilled and low-cost manpower in countries such as India and The Philippines. For example, information technology and business process management services exports from India were estimated to be worth around $100 billion in 2016.

TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.

Companies included in the report are IBM, Fujitsu, HPE, SAP and Accenture.

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