Business Process Outsourcing - Myanmar

Myanmar

Revenue in the Business Process Outsourcing market is projected to reach US$209.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.29%, resulting in a market volume of US$271.40m by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach US$8.41 in 2024.
In global comparison, most revenue will be generated in the United States (US$146.30bn in 2024).

Key regions: United Kingdom, United States, Brazil, Japan, Netherlands

Market

Region

Region comparison

Currency

Analyst Opinion

Myanmar, also known as Burma, is a country in Southeast Asia with a population of over 54 million people. The country's Business Process Outsourcing (BPO) market has been steadily developing over the years due to various factors.

Customer preferences: Myanmar's BPO market has been primarily driven by the demand for voice-based services such as customer support and telemarketing. This is because the country has a large pool of English-speaking individuals who are willing to work in the BPO industry. Additionally, the cost of labor in Myanmar is relatively low compared to other countries in the region, making it an attractive destination for outsourcing.

Trends in the market: In recent years, there has been a trend towards non-voice services such as data entry, accounting, and IT services. This is due to the increasing availability of skilled workers in Myanmar who are proficient in these areas. Furthermore, the government has been actively promoting the development of the country's IT sector, which has led to the growth of IT-related BPO services.

Local special circumstances: Myanmar has a unique set of challenges that affect its BPO market. The country has a relatively underdeveloped telecommunications infrastructure, which makes it difficult for BPO companies to provide reliable internet and telephone services. Additionally, the country is still in the process of developing its legal and regulatory framework, which can make it difficult for BPO companies to operate.

Underlying macroeconomic factors: Myanmar's BPO market is closely tied to the country's overall economic development. The country has been experiencing steady economic growth in recent years, which has led to an increase in the demand for outsourcing services. Additionally, the government has been actively promoting foreign investment in the country, which has led to the growth of the BPO market. However, the country still faces challenges such as political instability and corruption, which can affect the growth of the BPO market in the long term.

Methodology

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.