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Stamford (pte032/12.06.2003/15:38) - Gartner market research http://www.gartner.com has prophesied good development on the market for Business Process Outsourcing (BPO).
While other IT services are suffering under the weak economy, the business of outsourcing company processes is booming. According to statistics, turnover in this area is expected to increase by 11 per cent and achieve a world volume of 122bn dollars this year. In western Europe alone, analysts expect the market to be worth 27bn dollars.
According to Gartner analyst Rebecca Scholl, companies all over the world are focusing their investments on core business and trying to outsource non-vital business operations.
The greatest opportunities for growth, says Gartner, can be found in North America, where 57 per cent of the world turnover will be made. However the western European market is expected to grow by 11 per cent, threatening North America's 'dominant' position. The Asian-Pacific market is predicted to grow by 'only' 7.8 per cent to 8.7bn dollars in 2003, but achieve double-digit growth in subsequent years.
In general, Gartner expects the overheated market to cool down and growth rates to decline after 2004.
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