The Indian business process management industry is expected to nearly double its size to $50-55 billion by the end of 2025, IT industry body Nasscom has said. Revenues of the Indian BPM industry stood at $29.8 billion in FY17, as against $28 billion in the previous year, registering growth of 6.4%.
Nasscom said the BPM sector has created direct employment for about 1.2 million people, an increase of over 100,000 jobs when compared to the previous year. As per industry estimates in the last fiscal, the IT industry, including the BPM sector, had created about 170,000 jobs.
“The Indian BPM industry is developing and evolving slowly and has become the leading provider with 37% market share of the global business. At the current growth rate, we expect the industry to touch $50-55 billion business by 2025,” said Rohit Kapoor, chair of Nasscom BPM Council, and vice-chairman and CEO of EXL Service.
With the shift in technology, digital is becoming a new revenue opportunity for BPM providers and 60% of new projects have some component of digital. Nasscom also projects that digital streams will account for 60-70% of the BPM service providers’ revenue by 2025.