The global services market registered modest growth in 2024, with revenue increasing by 2-4% to approximately US$290 billion. This growth marked a continued deceleration from the strong post-COVID-19 rebound, driving an approximately 12% surge in global services delivery revenue in 2022. Growth slowed further in 2023, with revenue rising by only 3-5%. Moreover, the global services market saw a marginal increase in headcount in 2024, with roughly 200,000 FTEs added to the workforce across regions. In this Global Locations State of the Market Report 2025, we analyze the global services locations landscape, evaluate developments, and assess key trends to design an optimal locations portfolio strategy. The Key Trends report in this analysis examines global locations and the center landscape, adoption trends from 2024, and leaders’ priorities for building a successful location mix in 2025. The report also analyzes headcount and revenue growth trends in the global services market at geographic/regional levels. It includes a breakdown of new center setups by geography and function, including IT application development and maintenance, IT infrastructure, engineering, R&D, contact center operations, and non-voice business services.

Stagnant revenues and the increasing cost of services are challenging Asia Pacific (APAC) businesses in the Communication, Media and Entertainment (CME) vertical. To tackle a difficult business environment and more structural issues across the industry, CME enterprises are increasingly turning to IT outsourcing as a strategic lever to aid in transformation. Led by our experts Titus M, Practice Director, Mukesh Ranjan, Vice President, and Mohit Singhal, Senior Analyst, this webinar explored how CME enterprises can utilize IT outsourcing to create a strategy for differentiated, sustainable transformation. Watch this webinar to learn how to leverage IT outsourcing effectively to augment the enterprise and bolster it against future market disruption. What questions did the webinar answer for the participants? What is the current and future role of IT services within CME enterprises in APAC? How can CME enterprises utilize outsourcing as a strategic lever? What are the unique challenges faced by CME enterprises in APAC?

The Banking and Financial Services (BFS) industry in APAC is rapidly transforming due to digital technology adoption, regulatory changes, and a focus on sustainability and open banking. These shifts present challenges and opportunities, prompting BFS firms and technology providers to innovate and create more value. Strategic partnerships and implementing technologies are key strategies employed to foster innovation and elevate customer satisfaction. In this report, we explore the BFS industry’s evolving landscape in APAC, focusing on prevalent themes such as cloud computing, customer experience, data and analytics, open finance, risk and compliance, sustainability, and the growing adoption of Third-party Platforms (TPPs). For each theme, the report provides insights into current trends, drivers, adoption patterns, partnerships, and future outlooks. Geographically, the analysis extends to key APAC countries, including Australia, China, India, Japan, New Zealand, and Singapore. Scope Industry: BFS Geography: APAC Services: Technology and IT services Contents In this report, we examine: Technology investments made by APAC banks, ongoing deals, prevalent themes, and the challenges the industry faces Key trends across BFS IT spending, including investments in cloud computing, embedded finance, and TPPs The regulatory and compliance landscape Adoption of data analytics and AI within the industry Key sustainability initiatives and customer experience priorities shaping the future of BFS in APAC Membership(s) Banking and Financial Services Information Technology Outsourcing Excellence

Last year, the outsourcing industry faced a noticeable slowdown in demand. Now, with nudges at a potential recovery in the latter part of 2024, enterprises in the APAC region should proactively prepare for the possibility of a resurgence in pricing. Similarly, service providers must assess how they can seamlessly deliver the commercial benefits of generative AI and other innovative technologies. In this webinar, Everest Group’s pricing experts explored what this means for Asia-Pacific outsourcing pricing trends in 2024, what is shaping these trends, and the outlook. What questions did the webinar answer for the participants? What are the key expectations and unique requirements in APAC for buyers of outsourcing services? How has pricing changed since 2023? What factors will likely determine price movement in 2024, and how can enterprises be prepared?

Following a muted 2023, business leaders in the Asia-Pacific (APAC) region are cautiously optimistic about 2024. Within the current APAC sourcing market, as buyers prepare for the coming year, they are actively leveraging inventive commercial models, emerging location trends, and innovative pricing constructs to optimize the value they achieve from service providers. In this webinar, Everest Group analysts explored how APAC buyers can develop forward-looking sourcing strategies with the potential of advancing innovation in their outsourcing relationships and portfolios as value acceleration takes priority in 2024. What questions has the webinar answered for the participants? What are the top forward-looking strategies in APAC for outsourced services buyers for 2024? What location strategies are sourcing leaders planning to adopt in 2024 to achieve increased value from their service provider portfolio? What are the pricing trends and forecasts in APAC? What are the new-age commercial models observed in the APAC market? How should APAC-focused procurement leaders shape their contracting and negotiation strategies in 2024?  

Persisting economic uncertainty and increasing geopolitical pressures continue defining the macroeconomic environment this year. Because outsourcing service providers are unable to pivot to meet changing demands, buyer satisfaction with providers is hitting a record low, and the Asia Pacific (APAC) region is no exception. In this webinar, our analysts discussed shifting buyer expectations and the defining characteristics of the outsourcing climate in 2023 from an APAC-focused lens. We also explored what sourcing leaders are doing to navigate uncertainties across a range of levers, including service provider portfolio shifts, location and talent strategies, pricing and contracting tactics, and engagement models. Our speakers discussed: What are the macroeconomic trends shaping the APAC outsourcing market? What are the top focus areas in APAC for buyers of outsourced services? What location and talent strategies are sourcing leaders adopting to overcome increasing uncertainties? What are the pricing trends and forecasts in APAC? Which skillsets are facing more demand? How should APAC-focused procurement leaders shape their contracting and negotiation strategies?

The advent of 5G technology has promised unmatched opportunities for enterprises with new use cases that can benefit the topline. However, despite the hype around private 5G, current adoption patterns in APAC are not providing the promised potential. These ROI conversations have become even more pivotal given the macroeconomic conditions. In this webinar, our analysts provided buyers, service providers, and telecom providers with insights into the latest developments, challenges, and opportunities in the APAC market for private 5G. Our speakers discussed: What is the potential of 5G in the diverse APAC market? What is the current maturity for private 5G adoption, what are best practices, and what challenges should APAC enterprises keep in mind? How can enterprises ensure maximum ROI from private 5G adoption?

Enterprises in the Asia Pacific (APAC) region are consuming cloud at a faster rate than in other geographies. But as the cloud adoption frenzy cools, enterprises will need to realign their cloud journeys to address the unique challenges of the APAC market. In this webinar, Everest Group’s expert provided buyers and service providers insights into the latest developments, emerging patterns, and potential opportunities of the APAC cloud landscape. Our speakers discussed: What does the existing APAC cloud market landscape look like, and what are its challenges? How can your enterprise map its cloud journey? What are the external and internal factors impacting the enterprise cloud journey? How can you redefine a value-focused enterprise cloud journey?

The Asia Pacific (APAC) macroeconomic environment has experienced considerable ups and downs; additionally, banking and financial services (BFS) firms are up against the dual challenge of bringing in cost efficiencies while staying current with the latest technologies. Amid these ongoing challenges, the paradigm of modernization is shifting from a point-in-time activity to continuous evolution. In this webinar, our experts discussed how, in an era where cost savings is critical, continuous modernization for BFS firms is key. Our speakers discussed: What are the key business, technology, and sourcing priorities of BFS firms in Asia Pacific as they accelerate their modernization journey? What is the current state of maturity, and what are the primary challenges for the modernization of banking systems in APAC? What are the key considerations and best practices to modernize core systems in an era of conservative budgets?

The APAC Customer Experience Management (CXM) market remained strongly resilient after the pandemic in 2021. Digitization and digital transactions increased in developing countries, such as India, China, Malaysia, and Indonesia. Buyer demographics in APAC are skewed toward small and midsize enterprises, which require a combination of digital tools, such as advanced analytics, intelligent automation, conversational AI, omnichannel, and agent-assist tools, to serve the surging demand for personalization across industries. These enterprises are increasingly turning to service providers and leveraging their domain and technical expertise to scale and digitalize their operations. Also noticeable is a strong demand for transformation consulting services, such as customer journey mapping and design thinking among enterprises to accelerate their digital transformation initiatives and ensure business continuity, leading to a scope expansion within existing CXM contracts. In this research, we present detailed assessments of 20 CXM service providers in APAC featured on the CXM Services PEAK Matrix® Assessment 2022. Each assessment provides a comprehensive picture of the service provider’s market success, vision and strategy, service focus and capabilities, digital and technological solutions, domain investments, and buyer feedback. Scope Geography: Asia Pacific The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading CXM service providers, client reference checks, and an ongoing analysis of the CXM services market Contents This report examines: CXM in APAC – Service Provider Landscape with PEAK Matrix® Assessment 2022 Strengths and limitations of the service providers studied Sourcing considerations for buyers Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Sourcing and Vendor Management