Where is the largest and most evolved global sourcing market in Europe? Somewhere to the east, perhaps? One of the most faster-growing European nations RGCNB3WNCQDB?
No. The answer is the oldest industrial economy of them all; the UK. The ‘land of hope and glory’ is the largest and most evolved global sourcing market in Europe, according to research from the Information Technology Industry Development Agency (ITIDA) and researcher the Everest Group.
The UK witnessed 36% growth between 2004 and 2009, largely as a result of cost pressures and the abundance of English speaking supply locations. What’s more, the UK still has significant untapped potential; the report suggests the UK’s estimated global sourcing opportunity is $55-60bn, five to six times the current market.
“The European global sourcing market has assumed an increasing significance over the past few years, spreading across countries, verticals and services. The potential is huge; we estimate the European global sourcing opportunity to be US $250-300bn,” said Eric Simonson, managing partner at the Everest Group.
The reports suggests the global outsourcing landscape has evolved rapidly, with over 75 cities currently serving Europe across four main regions; Central and Eastern Europe (CEE), Africa, South Asia (including India) and Latin America.
What does this pattern show about the business’ approach to outsourcing? Are organisations even more willing – in cost-constrained times – to look for external provision? In short, how much more can the CIO outsource?
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Countless people today do not understand precisely what outsourcing is. They do not realize they use it each and every day in our private and professional lives.