Key regions: United Kingdom, United States, Brazil, Japan, Netherlands
The demand for Business Process Outsourcing (BPO) services has been increasing globally due to the benefits it offers to businesses such as cost reduction, increased efficiency, and access to skilled labor. Laos, a Southeast Asian country, has also been experiencing a growth in its BPO market.
Customer preferences: Laos has a young and educated population, which makes it an attractive destination for BPO services. The country also has a lower cost of living compared to other Southeast Asian countries, which makes it an affordable option for businesses looking to outsource their processes. Additionally, the government has been promoting the development of the BPO industry in the country, which has increased the confidence of foreign investors.
Trends in the market: One of the main trends in the BPO market in Laos is the growth of the IT sector. The country has been investing heavily in its digital infrastructure, which has led to an increase in demand for IT-related services such as software development, data entry, and technical support. Another trend is the rise of the tourism industry, which has created a demand for customer service and language support services.
Local special circumstances: Laos has a unique advantage compared to other Southeast Asian countries as it is the only landlocked country in the region. This has made it a hub for cross-border trade and has facilitated the growth of the logistics and supply chain industry. The growth of this industry has created a demand for BPO services such as inventory management, order processing, and transportation management.
Underlying macroeconomic factors: Laos has been experiencing steady economic growth over the past few years, which has made it an attractive destination for foreign investors. The government has also been implementing policies to promote foreign investment and has been investing in infrastructure development. Additionally, the country has a favorable tax regime, which has made it an affordable option for businesses looking to outsource their processes. However, the country still faces challenges such as a lack of skilled labor and a small domestic market, which may limit the growth of the BPO industry in the long run.
Data coverage:
The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
