Market research outsourcing (MRO) is the new growth driver
April 29, 2008
Fairfield, ca – with market research outsourcing (mro) volume slated to reach a staggering $ 800 million by the year 2011-2012, Telegenisys ltd. expects that this sector will become one of the primary growth drivers for the outsourcing industry in the next few years. Commenting on the prospects, the official spokesman of the company said that considering that the current share of india’s mro industry in the global $4 billion pie is only around $149 million, there exists a huge growth opportunity for mro firms in india. He added that Telegenisys is already witnessing increasing demand for it’s high-end mro services and that it is working hard to meet those demands.
Telegenisys further anticipates that the increasing demand for mro services will come more from small and medium enterprises (smes) in the near future. Around 70% of the mro projects that the company has obtained over the last six months are from smes. This explains why the company is hedging big-time on smes for its future growth. Outsourcing demand from large businesses has reached a saturation point and it has become obvious that in the future it will be the smes that will act as the primary demand generators.
Elaborating on the emerging trends in the mro industry, the company’s spokesman said that it’s the smes that have been hit hardest by the ongoing subprime crisis. He explained that the media may only be highlighting the billions of dollars lost by corporate behemoths such as citibank, but that does not mean that smes have faired any better. “large businesses can sustain periodic ups and downs, but when it comes to smes, doing the same becomes a lot more difficult. Always on their toes and most often working with fairly limited resources, the subprime crisis is making things increasingly difficult for smes. This is why, in an effort to reduce operational costs and improve efficiencies, more and more smes are choosing mro services.”
When asked to provide some details about the company’s existing plans and strategies, the company’s spokesman said that Telegenisys has already completed an infrastructure upgrade and is currently looking for the best market research talent that is available. “human resource procurement is currently our main objective because we are already working on 8 different MRO projects and 13 more are in advanced stages of initialization. We want to make the best possible use of available growth opportunities and this is why we are concentrating our efforts on hiring the best available talent and skillsets.”
He also informed that Telegenisys is currently targeting both organic and inorganic growth opportunities with a view to capturing a larger share of the available MRO market. “it has become quite clear that the future is bright for the MRO industry and as such, we are doing everything we can to contribute to the growth of this industry.”