Everest Group has found that, in the first quarter of 2015, Europe surpassed Asia in “new setup activity” of service centres for the very first time.
This is despite a sluggish start to the year for outsourcing overall, with global transaction activity continuing to decline for a third consecutive quarter.
Everest reports that Europe’s success largely came down to the manufacture, distribution and retail sector, as well as local technology firms building research and development centres in nearshore locations.
Salil Dani, vice president of Everest Group, commented: “A highlight of Q1 is that the overall GIC market continued to increase and is shifting toward getting better, thanks to persistent demand from adopters.
“In particular, we are seeing GIC setups for IT and R&D/engineering work gaining traction, driven by the increased adoption of Social, Mobile, Analytics and Cloud—or SMAC—technologies.”
The full Market Vista Q1 2015 report is available for purchase on Everest’s website.