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By now it should be obvious that outsourcing saves corporations time and money. However, it is helpful to examine global trends and statistics regarding outsourcing. Despite the recent global recession, outsourcing has grown by 4% in 2009, with an average annual growth of 9.7% since 2005. Not only is the industry growing rapidly, but the market value is over $580 billion.
Outsourcing is divided into three categories: Information Technology Outsourcing (ITO), Business process outsourcing (BPO), and Electronic Data Processing. ITO makes up almost 50% of the market, BPO makes up about 43% of the market, and EDP makes up the remaining 7%.
The outsourcing outlook for the coming years looks promising. As the world emerges out of the global recession, the outsourcing industry will return to higher growth rates. According to Datamonitor, the market will grow 5.4% in 2010, and 7.2% in 2011 with $660 billion in revenue by the end of 2011. By 2014 it is expected that the market value will be around $875 billion with 10% growth!
A great majority of industries have experienced declines in market growth due to the current global recession. Outsourcing has not been immune to the economic downturn we have been facing, but it has not stopped companies from implementing outsourced processes into their business. Because of the significant savings that outsourcing offers, companies are able to stay in business by outsourcing.
If your company is considering business process outsourcing services of any kind, including information technology, consider this; the outsourcing services industry is not showing any signs of slowing down. Many other corporations are outsourcing to save money and improve the bottom line, so why shouldn’t you do the same? Whether you are a small, medium, or large corporation, contemplate the pros and cons of outsourcing and give it a try.

