BPO Revenue to reach $38.9B by 2022
THE Information Technology and Business Processing Association of the Philippines (IBPAP) released its six-year roadmap recently. According to the roadmap, there will be a shift to middle and high-level jobs and the BPO service industry’s ability to service multiple segments.
The global market share is going to increase from 12.6% to 15.5% in the next six years. IBPAP also stated that BPO service industry would grow slowly. The local compound annual growth rate (CAGR) decreased from 17% to 9.2%.
The revenue generated by voice services is projected to reach $22.2 billion by 2022. Non-voice services expect to reach 42% of the total services provided in 2022, raising from 34% in 2016.
The full-time workforce is projected to expand to 1.8 million by the end the six-year period.
All this is possible as long as the Philippines provides an upgrade of the existing talent pool, developed infrastructure in upcoming cities, competitive regulations and incentives, improved industry association and high-value services.
The roadmap has been handed over to the President of the Philippines in order to show him that IBPAP is committed to countryside development, upgrading talent pool and policy agenda.
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