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.

LATAM is a strong nearshore option for global service delivery, offering proximity to North America, a skilled bilingual workforce, and cost benefits. Companies seeking operational efficiency and geographic diversification through nearshoring turn to this region. LATAM’s services landscape is evolving rapidly, expanding beyond traditional workstreams to support advanced capabilities, such as generative AI, ML, and knowledge-based services. Digital and IT infrastructure investments are strengthening LATAM’s position as a viable alternative to traditional offshore mega hubs. As companies reassess their sourcing and nearshoring strategies, LATAM stands out as a key differentiator. In this report, we examine the LATAM region as a key destination for nearshoring opportunities. It ranks 16 countries across the region based on their attractiveness for global service delivery. The report evaluates various parameters to assess the region’s appeal from a service delivery perspective, focusing on the service delivery landscape, key processes delivered, and each country’s future potential. Scope Geography: LATAM Service: IT-BP Contents In this report, we: Examine IT-BP delivery growth drivers in LATAM Analyze LATAM’s operating risks and financial attractiveness Assess risks and rewards, highlighting relevant trade-offs Offer a global services delivery overview Evaluate key market trends, market activity, and function maturity

Customer Experience Management (CXM) in the Americas – Provider Compendium 2024 provides detailed and fact-based snapshots of 45 CXM providers offering services in the Americas. Each profile offers a comprehensive view of the provider’s scale of operations, proprietary digital solutions, partnership ecosystem, portfolio mix, and delivery locations. The compendium will enable providers to benchmark their capabilities against their peers, while CXM services buyers will be able to assess the providers based on the desired set of capabilities. Scope Domain: CXM Industry: all Geography:the Americas Contents In this research, we feature profiles of 45 CXM providers offering services in the Americas region and examine their: Services’ suite and scale of operations, including key leaders, FTEs, revenue, recent developments, proprietary solutions, and partnerships Key delivery locations worldwide Capabilities, major engagements, and revenue by geography, industry, and buyer size Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Sourcing and Vendor Management

The Customer Experience Management (CXM) market in the Americas experienced moderate growth due to a stable economy, especially in the US. This favorable climate encouraged substantial investments from regional providers. Businesses are accelerating their digital transformation journeys. In response, providers offer diverse digital CX solutions, including automation, analytics, conversational AI, chatbots, self-service options, omnichannel delivery, and cloud-based contact centers. To drive innovation and implementation in digital CX, including gen AI adoption, providers have established Centers of Excellence (CoEs). These centers deploy gen AI solutions, such as knowledge-as-a-service, learner co-pilots, QA&QC co-pilots, conversational AI chatbots, and agent-assist tools. Moreover, most providers are forging strategic partnerships with hyperscalers and AI startups to enhance their gen AI capabilities and expand their service offerings. In this report, we analyze 43 CXM service providers’ capabilities across industries in the Americas. Each profile examines the provider’s service focus, key IP and solutions, domain investments, and case studies. Scope Industry: all Geography: Americas This assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading CXM service providers, client reference checks, and an ongoing analysis of the CXM services market Examine the CXM market in the Americas Assess providers’ key strengths and limitations Evaluate enterprise sourcing considerations Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing CX Excellence Sourcing and Vendor Management

The global services market grew by approximately 12% in 2022, reaching a value of about US$275 billion. However, momentum slowed in 2023, with market revenue expanding only by 3-5% to nearly US$285 billion by year-end. Moreover, the global services market saw a marginal increase in headcount in 2023, with roughly 300,000 FTEs added to the workforce across various regions. In this Global Locations State of the Market Report 2024, we analyze the global services locations landscape, evaluate developments, and assess key trends to design an optimal locations portfolio strategy. The Key Trends report within this analysis examines global locations and center landscape, adoption trends from 2023, and leaders’ priorities for building a successful location mix in 2024. The report also examines headcount and revenue growth trends within 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. Scope Industry: global services Geography: global Contents In this report, we examine: Key trends shaping the global locations landscape Geography-specific trends across offshore/nearshore locations Onshore parameters of global services delivery Key trends for enterprise locations/workforce strategy Membership(s) Locations Insider™ Sourcing and Vendor Management

Risk Watch 2024: Potential Repercussions on Global Services Delivery in an Unpredictable World interprets developments and trends related to global service locations, with the aim to design a best-fit locations portfolio strategy. The report is divided into three parts – Key Trends Shaping the Landscape, Risk Watch, and Locations PEAK Matrix®. It provides insights into market size and growth, global services exports by region and country, location activity by region and country, and trends affecting global locations. Additionally, the report provides industry-leading comparison and analysis of key changes in the maturity, arbitrage, stability, and potential of global delivery locations (cities) through our PEAK Matrix® assessment of locations. The Risk Watch section offers a comprehensive view of the operating and business environments in major delivery locations worldwide, along with select source geographies. Scope Industry: global services Geography: global Contents In this report, we examine: The operating and business environment at different locations in a region, including APAC, Europe, the Americas, Middle East, and Africa Key changes in the risk profiles of different delivery locations Key risks/opportunities to watch out for in delivery locations across regions Risk ratings across seven primary parameters of assessment Important occurrences in the past year that are likely to impact providers and buyers or are worth watching out for Membership(s) Locations Insider™ Outsourcing Excellence

Everest Group’s Location Spotlight reports provide a crisp, insightful assessment of established and emerging/next-wave global services delivery locations by country and city. The reports help global sourcing practitioners or location strategy professionals stay ahead of competition in understanding key market dynamics and the related opportunities presented by each location. Our report on Argentina offers data-backed research to understand the market’s attractiveness in terms of: Key drivers, challenges, and untapped opportunities for the global sourcing industry Talent and skills availability (at both entry and experienced levels) Depth and maturity across functions Financial attractiveness (including wage inflation and attrition) Delivery presence of enterprises and providers Key languages supported Key environment risks (such as macroeconomic, geopolitical, infrastructure, safety and security, and legal and regulatory) Location Spotlight, combined with other reports in Everest Group’s Locations Insider™ subscription, makes for the industry’s most comprehensive resource on location trends and perspectives. The Locations Insider™ subscription provides up-to-date and actionable insights on which enterprises can base their location decisions and strategies. Membership(s) Locations Insider™ Sourcing and Vendor Management

Offshoring/nearshoring has seen an uptick across functions as enterprises have embarked on a road to recovery post the pandemic. In 2023 as well, rising cost pressures and talent-related challenges in onshore geography will continue to move the pendulum in favor of offshore/nearshore geographies. Asia Pacific continues to dominate the global services landscape as major tier-1 Indian cities maintain their Leader positions across functions. The Philippines continues to remain a Leader for contact center and transactional business process services work. In EMEA, Poland and Ireland continue to be the locations of choice for IT-BP delivery. Locations in LATAM continue to witness growth in terms of new capabilities to serve the North American (especially the US) market. Mexico, Argentina, and Colombia continue to maintain their position as Major Contenders (in the global landscape) for most functions. The Global Locations State of the Market Report 2023 describes the global services locations landscape and examines the location-related developments and trends to design a best-fit locations portfolio strategy. Scope Industry: global services Geography: global Contents The report includes the following topics: The report is divided into three parts: Key trends shaping the global services landscape Risk watch Locations PEAK Matrix®: it features an objective, data-driven, and comparative assessment of locations specific to a market segment (function and process); the key market segments and locations in scope include: Information Technology – Application Development and Maintenance (IT-ADM) – Global (excluding North America) Information Technology – Application Development and Maintenance (IT-ADM) – Asia Pacific (APAC) Information Technology – Application Development and Maintenance (IT-ADM) – Latin America (LATAM) Information Technology – Application Development and Maintenance (IT-ADM) – Nearshore Europe Information Technology – Application Development and Maintenance (IT-ADM) – North America Contact Center (CC) – Global (excluding North America) Contact Center (CC) – APAC Contact Center (CC) – LATAM Contact Center (CC) – Nearshore Europe Contact Center (CC) – North America Business Process Services (BPS) – Global (excluding North America) Engineering / Research and Development (ER&D) – Global (excluding North America) This report presents insights into market size and growth, global services exports by region and country, locations activity by region and country, and trends affecting global locations (changes in the investment environment, key developments globally, and changes in the exposure to various risks) Membership(s) Locations Insider™ Sourcing and Vendor Management

Everest Group’s Location Spotlight reports provide a concise and insightful assessment of global services delivery locations, both established and emerging/next-wave, categorized by country and city. The reports serve as a valuable resource for global sourcing practitioners and location strategy professionals, equipping them with the necessary knowledge to stay ahead of the competition by describing key market dynamics and highlighting the opportunities associated with each location. Our report on Chile offers data-backed research to understand the market in terms of:: Key drivers, challenges, and untapped opportunities for the global sourcing industry Talent and skills availability (at both entry and experienced levels) Depth and maturity across functions Financial attractiveness (including wage inflation and attrition) Delivery presence of enterprises and providers Key languages supported Key environment risks (such as macroeconomic, geopolitical, infrastructure, safety and security, and legal and regulatory) Location Spotlight, combined with other reports in Everest Group’s Locations Insider™ subscription, makes for the industry’s most comprehensive resource on location trends and perspectives. The Locations Insider™ subscription provides up-to-date and actionable insights on which enterprises can base their location decisions and strategies. Membership(s) Locations Insider™ Sourcing and Vendor Management

The Global Locations State of the Market Report 2023 interprets developments and trends related to global service locations, with the aim to design a best-fit locations portfolio strategy. The report is divided into three parts – Key Trends Shaping the Landscape, Risk Watch, and Locations PEAK Matrix®. It provides insights into market size and growth, global services exports by region and country, location activity by region and country, and trends affecting global locations. Additionally, the report provides industry-leading comparison and analysis of key changes in the maturity, arbitrage, stability, and potential of global delivery locations (cities) through our PEAK Matrix® assessment of locations. The Risk Watch section offers a comprehensive view of the operating and business environments in major delivery locations globally, along with select source geographies. Scope Industry: global services Geography: global Contents In this report, we examine: The operating and business environment at different locations in a region, including APAC, Europe, the Americas, and Middle East and Africa Key changes in the risk profiles of different delivery locations Key risks/opportunities to watch out for in delivery locations across regions Risk ratings across seven primary parameters of assessment Important occurrences in the past year that are likely to impact providers and buyers or are worth watching out for Membership(s) Locations Insider™ Sourcing and Vendor Management