The business process outsourcing (BPO) market is set for strong demand relative to a more ‘mature’ purely IT outsourcing market, a four-year forecast published today has claimed.
BPO analyst firm, NelsonHall said the BPO market is predicted to reach $450 billion (£231.1 billion) by 2012 in response, in part, to difficult global economic conditions.
It said the economic climate would hasten globalisation, leading organisations to not only use offshore outsourcing to reduce their cost base, but also exploit it to hasten entry into emerging growth markets. It added this strategy was particularly evident in the financial services and telecommunication sectors.
