'The deals will not be very big, around $50 million to $250 million, but the good news in that is that there is room for niche players. Many companies like to be with small partners for personalized services,' Aquino said.

Another industry trend is that companies who outsource are slowly closing in on the core. Aquino explained that as the companies get used to the system of outsourcing, companies are increasingly bringing their core businesses into the picture.