India's Business Process Management to be USD 55 billion industry by 2025: Nasscom
By Express News Service | Published: 13th October 2017 07:44 AM |
BENGALURU: India’s Business Process Management (BPM) sector is poised to grow at a rapid pace over the next few years and revenues could touch $55 billion by 2025, up from $30 billion currently, according to Nasscom.
This is despite fact that there will be cannibalisation of revenue, further use of automation and technologies, use of robotics in a much pervasive way, it noted. This is because, the “value the industry will contribute is going to be significantly higher”.
According to Nasscom, digital streams would account for 60-70 per cent of the BPM service providers’ revenue by 2025, overtaking traditional streams.
“In this era of changing expectations, hybrid growth driven by higher order thinking and digital assistance will drive dynamic shifts towards new geographies, verticals and markets,” said Raman Roy, chairman, Nasscom.
In a bid to further the growth in the sector, the Nasscom BPM Council is aiming to work towards positioning India as the destination of choice for global firms to deliver transformation value. The Council has also stressed the importance of focusing on data science and artificial intelligence, reskilling the existing workforce in order to cope with automation and artificial intelligence-driven technologies.
Rohit Kapoor, chair, Nasscom BPM Council added: “With customer experience becoming mission critical for companies, they are investing heavily in new technologies enabling AI, automation, big data analytics. We hope this trend will continue in the coming years.”