The global outsourcing market will finish 2007 at US $297 billion, with an estimated growth rate of 19.31 percent, according to an independent market forecast by XMG. The forecast includes IT, BPO and call center services, and the onshore and offshore delivery of outsourcing services. The study shows offshoring beating market expectations. XMG analysts predict strong growth and turbulent conditions for global outsourcing through 2010.
XMG forecasts the total outsourcing market to reach US $450 billion by 2010.
"While it is no surprise that India and China continue to lead amongst the offshore countries, our study also showed a noteworthy insight to those following the growth of other offshore countries in Asia," said Lauro Vives, Founding President and Chief Analyst of XMG. "The Philippines is experiencing an unprecedented growth rate of 62% CAGR and will surpass Malaysia in 2007."
