Key regions: United Kingdom, United States, Brazil, Japan, Netherlands
As the global Business Process Outsourcing (BPO) market continues to grow, Zambia is also experiencing an upward trend in this industry.
Customer preferences: Zambian businesses are increasingly outsourcing their non-core activities to third-party service providers to reduce costs and improve efficiency. This has led to a rise in demand for BPO services such as customer service, finance and accounting, and human resources. Additionally, the country's young and tech-savvy population is driving the demand for digital services such as data entry, data processing, and e-commerce.
Trends in the market: One of the notable trends in the Zambian BPO market is the emergence of small and medium-sized BPO firms. These firms are leveraging technology to provide cost-effective and efficient services to local businesses. Furthermore, there is a growing trend of foreign BPO firms setting up operations in Zambia to take advantage of the country's low labor costs and favorable business environment. Additionally, there is a shift towards providing higher value-added services such as analytics and research.
Local special circumstances: Zambia's favorable business environment and stable political climate make it an attractive destination for BPO firms. The country has a relatively low cost of living, which translates to lower labor costs compared to other African countries. Furthermore, the government has been actively promoting the BPO industry by providing tax incentives and investing in infrastructure. The country's strategic location also makes it an ideal hub for serving clients in Southern and Central Africa.
Underlying macroeconomic factors: Zambia's economy is heavily dependent on copper exports, which has been a major source of foreign exchange earnings. However, the country has been diversifying its economy by promoting the growth of non-traditional sectors such as BPO. The government has also been investing in education and skills development to create a pool of qualified workers for the BPO industry. Additionally, the country's young and growing population presents a significant opportunity for the industry to tap into a large pool of talent.
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)
