Global business process outsourcing market to reach $1 trillion by 2006

The worldwide BPO market is likely to grow at an annual 9% rate, to touch $1,000,000,000,000 by 2006 from $773 bln in 2002, according to IDC. The survey found 50 senior IT executives of Fortune 500 companies in US, who responded overwhelmingly, preferring a blend of business and technical capabilities in the BPO service provider. The BPO industry in India would grow at 54% annually for 2002-06. The BPO services are expected to grow from $2 bln in 2002 to $12 bln in 2006.

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