Over the past few years, about 30% of outsourcing work has moved to GCCs.
The share of GCCs versus IT service providers in India was approximately 75% in favor of service providers about a decade ago, during 2012-13, according to Nitish Mittal, Partner at Everest Group. “Now it has gone down to approximately 65%, but the overall market has grown at 8-10% CAGR (Compound Annual Growth Rate) to become almost 2.5 times in that time period. So, the share of GCCs has grown faster, but the overall spend on both third-party IT, business process, and engineering services have increased significantly from a volume and value standpoint,” he said.
