It seems like everyone’s talking about Information Technology (IT) and the cloud.  Even in outsourcing, these topics pop up frequently in the news.  This is in comparison to other services in the outsourcing industry such as knowledge process outsourcing. But while knowledge process outsourcing (KPO) has somewhat faded from the limelight, there are still numerous opportunities in the space such as those in data analytics, investment research and market research outsourcing services.

Every company needs to understand the market they cater to, to help them identify the areas for improvement as well as areas for opportunity. The research industry as a whole has gone through a lot of standardization and consolidation due to the advancement of technology. The market research industry, in particular, has changed over the years due to globalization, increasing competition, changing market demand, among other factors. All these changes paved the way for greater outsourcing.

Even before the global economic downturn, many organizations had already begun re-examining their offshore outsourcing strategies. Some companies are cutting back spending on their outsourced operations, while others are expanding their offshore operations in Asia. Given the companies’ different take on outsourcing and current market conditions, it is crucial for offshore service providers to know which industry or sector they should focus on for business expansion or acquisition of new accounts.