The Business Process Management (BPM) industry in India aims to reach USD 50 billion in terms of revenue by 2020, the industry officials today said.
“We are looking at strong growth going forward and our target is to get to USD 50 billion in terms of revenue by 2020,” NASSCOM BPM Council Chairman Keshav Murugesh told reporters here.
Speaking on the sidelines of NASSCOM BPM Summit 2016 here, he said “What will drive growth and what is the kind of impact we are seeing- is strong focus on automation, digitisation and new model to help service clients, moving away from traditional models to much more outcome and output based models.”
“We are seeing a lot more a focus on advanced analytics, robotics processed automation not only in new areas, but also in the traditional areas, and what is interesting is we are seeing that existing clients are also looking at spending in new areas, while new clients are imbibing the new models,” he added.
According to industry officials with 2,500 plus firms, BPM industry’s revenue in India in FY2016 was at USD 28 billion and the country’s share in global sourcing is about 38 per cent.
Of the USD 28 billion revenue, USD 3.6 billion is domestic BPM revenue.
Stating that the M&A in the industry is taking place at this point in time, Murugesh said social media, mobility and other technologies are driving demand from customised services.