India uniquely positioned to capture 35-50% of global CIH market: BCG
innovation hubs (CIHs) have an expanded portfolio of services today and India has an opportunity to capture a big share of this market, says Boston Consulting Group.
CIHs are centres that provide access to high quality talent and advanced technology to help businesses grow by playing a prominent leadership role in formulating and driving business priorities across the enterprise. In its latest white paper, BCG says CIHs’ portfolio today includes front-end customer facing business operations and capabilities in emerging technology.
Sreyssha George, Managing Director & Partner at BCG, says that global CIH spend is currently estimated at $265-290 billion and is expected to grow to $390-420 billion by 2027 (10% CAGR). “India is uniquely positioned to capture a 35-50% market, given its rich and scaled talent pool. Also, these hubs will bring significant innovation and talent upskilling to the Indian ecosystem,” she states.
Elaborating further, she points out that India is very unique with its multiple key value propositions on offer. “We have scaled talent pools across all the core towers like shared services (finance, HR, etc), technology as well as core business operations, giving us the breadth of skill sets required for the CIHs. Our workforce is also flexible, constantly upskilling including ability to run 24x7 operations, digitisation and BPR capabilities. Also we have a scaled middle and top management talent that allows centres to scale as high as 30-40K, while most countries have a ceiling of 1-2k employees
