Global KPO to grow 23% in four years – Technavio

The global knowledge process outsourcing (KPO) industry is forecast to grow 23% over the next four years as demand for specialized skill sets continue to rise, according to the latest report released by research firm Technavio. The majority of the demand for KPO services will come from regions like the Americas and Europe while the supply side will come from the Asia-Pacific region. The report added that high demand for KPO services will come from banking, financial services, insurance, healthcare and retail sectors. India accounted for over 60% of the global KPO market share last year, followed by China. The Philippines is also making advances in their share of the global KPO market.