Information technology industry body Nasscom on Tuesday said the global business process management (BPM) spend will grow at six-seven per cent annually till 2020 resulting in significant opportunities for the sector.
Global BPM spend, which stands at $130 billion across different sectors in 2013, are likely to grow to $233 billion by 2020, it said.
“Changing regulatory conditions in healthcare (Obama-care) in the US and banking, financial services and insurance (BFSI) in Euro Zone and significant business-process-as-a-service (BPaaS) adoption in horizontal services would be the key growth drivers,” Som Mittal, President, Nasscom, told reporters here.
He said the industry is now transitioning into new service offerings for high-value opportunities catering to the ‘unknown’ and ‘unmet’ needs of the customers from business technology, cloud services, enterprise mobility and platform-based delivery.
BPM sector
This will also help the Indian BPM sector to further grow at $50 billion by 2020 from $20.8 billion right now. Domestic market is also expected to grow at $ 7-8 billion by then from around $ 3 billion right now, Mittal said.
“Industry has now started making significant investments in tools, technology and talent required to build appropriate solutions and effectively communicate the value proposition,” he said.
The industry body has come out with a BPM sector perception study (along with Nielson), which states that 70 per cent of the 5,000 people surveyed 5,000 from BPM industry, said that the industry is attractive and offers good long-term career prospects.
It said 64 per cent of the respondents said that jobs in BPM gives sense of success in society and 75 per cent said that BPM provides safe working environment.
For a strong pipeline of qualified and trained talent pool, which is a key priority for the industry, Sector Skills Council of Nasscom has also launched first-ever sector ‘Occupational Standards’ guidelines that will train students, industry employees and academia to garner opportunities available and contribute to the growth of the industry.
Nasscom will work with various institutions – both Government and private – such as National Institute of Electronics & Information Technology under Department of Electronics & Information Technology, National Skill Development Corporation, NIIT and Aptech.
“The aim is to train one lakh people in the first year, thereby growing it to around two-three lakh people every year and train around seven lakh people by 2020,” Sandhya Chintala, Executive Director (Sector Skills Council) and Vice-President, Nasscom, told Business Line .
Training programme
She said there are 510 different roles in the IT-BPM industry at different levels and training of people will help the industry grow horizontally as well as vertically. The initial programmes will start from November, she added.
ronendrasingh.s@thehindu.co.in