Malaysia’s BPO market forecast to hit USD1.4bn by 2021

The Philippines’ status as one of the leading outsourcing destinations in the world could be challenged by the rise of Malaysia’s business process outsourcing market. According to International Data Corporation (IDC), Malaysia’s outsourcing market could reach USD1.4bn by end of 2021, growing at a compounded annual growth rate of 7.9%. The growth is attributed to the increase in demand for the customer care segment and high-end analytics solutions by Malaysian enterprises. Sreenath Kandarpah, Head of Services at IDC ASEAN, said the majority of Malaysian enterprises will eventually rely on BPO providers to deliver efficient and effective services for their business processes.