Global KPO market set to grow 23%

A recent study published by Technavio showed that the global knowledge process outsourcing (KPO) market is expected to grow by about 23% until 2019. The growth will be driven by companies looking for more analytical and specialized expertise, the report said. The pharmaceutical and biotech sub-segments are expected to show a high demand for clinical research and drug discovery services. In the Philippines, there is increased pressure to diversify offerings and move towards higher-value and knowledge-intensive services. KPO already accounted for 40% of the country’s BPO industry in the Philippines. Many BPO companies have branched out into non-voice services, which range from finance and accounting to animation to healthcare revenue cycle management.