Released on: February 14, 2008, 3:57 am

Press Release Author: ValueNotes

Industry: Consumer Services

Press Release Summary: A recent publication by ValueNotes estimates that in a span
of seven years, the offshore market research industry has surpassed the domestic
market research industry that has been around for over 50 years. The domestic market
research industry is estimated to be $145 million for FY07, and is expected to have
a modest growth rate of 20% in the near future. In contrast, the market research
outsourcing (MRO) industry has grown to $148 million in FY07, and is slated to reach
$800 million by FY12 at a CAGR of 47%.

Press Release Body: The Indian MRO space has been experiencing a phase of rapid
growth over the last 3 years. The research study by ValueNotes suggests that there
are around 110 vendors in the Indian MRO space. Newer services have been added to
the "offshored" list, many new vendors have emerged and several existing vendors
have expanded their capabilities. The Indian MRO industry employed around 7,500
people as of FY07 and is expected to reach 33,000 by FY12, according to ValueNotes'
estimates.

The Indian vendor landscape comprises captives of large research agencies and third
party vendors - pure-play MRO vendors, full service research firms, KPOs and BPO
service providers. All the major vendors are rapidly evolving in terms of service
offerings and have aggressive expansion plans in the near future. However, pure-play
vendors like Ugam Solutions and Annik Technology Services have been leading the
space.

"The large and fast growing opportunity in MRO services has led to a mushrooming of
new vendors, even as existing players are rapidly ramping up and adding new service
capabilities. Going forward, we expect growth in both high value services like data
mining, analytics, panels etc., as well as in high-volume, low-value services", says
Arun Jethmalani, CEO of ValueNotes. Adds Pranav Dixit, analyst and co-author of the
report, "With high growth in this space, large generic multi-service BPOs and KPOs
will increasingly add MRO services to their portfolio. However, the success of these
new entrants will be largely determined by domain knowledge and the ability to
attract and retain talent with research related expertise."

The ValueNotes report: "Market Research Outsourcing: The India Growth Story"
provides in-depth information and analysis of the Indian vendor space along with
vendor profiles of large and upcoming players.

About ValueNotes

ValueNotes Database is a leading provider of business intelligence and research,
with expertise across selected domains and types of customer needs. Working with
clients across the globe we have significant understanding of international markets.


The ValueNotes Outsourcing Practice is one of the largest information providers on
the outsourcing industry. Our Outsourcing Practice uses a comprehensive, analytical
framework providing fresh insights into the fast emerging and yet, complex
outsourcing space. We extensively track the outsourcing space in-depth through a
regular analysis of news and events and continuous primary research and contact with
the industry.



Web Site: http://www.sourcingnotes.com/content/view/279/1/

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301, Venus Point, 1226/1 Off F.C. Road, Pune - 411004, INDIA
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URL: www.sourcingnotes.com
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