DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5tggbx/outsourcing) has announced the addition of the "Outsourcing Market in the APAC Region 2015-2019" report to their offering.
The Outsourcing market in the APAC region to grow at a CAGR of 5.96% over the period 2014-2019
Outsourcing is the process of subcontracting the technical or non-technical functions of an organization to a third-party vendor that has expertise in the required domains. It helps firms to increase their operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with the latest technologies, and build an economical cost structure in the long run.
The emergence of new outsourcing locations is one of the trends being witnessed in the market. Rising salary levels of employees in the APAC region have resulted in other locations such as Eastern Europe and Latin America becoming popular destinations for outsourcing as the companies in these regions can provide services at a lower cost.
According to the report, the Outsourcing market in the APAC region is primarily driven by the increased need to access additional expertise. The Outsourcing industry has transformed various developing economies. The presence of a trained workforce in Eastern Europe and Latin America is forcing companies in the APAC region to outsource their business activities to augment their existing expertise.
Further, the report states that outsourcing of business activities can result in laying off the existing employees of a company. This can create a high unemployment rate in the populated countries of the APAC region. This is a major challenge for the market.
Other Prominent Vendors
- Aditya Birla Minacs
- HCL Technologies
- Hexaware Technologies
- Infotech Enterprises
- ITC Infotech
- NIIT Technologies
For more information visit http://www.researchandmarkets.com/research/5tggbx/outsourcing