Global procurement BPO market generated $627 mln in 2005

IDC estimates that the worldwide procurement BPO market reached $627 mln in 2005, and will expand at a five year compound annual growth rate (CAGR) of 22.3% to reach $1.7 bln by 2010. The study reveals that growth in customer spending is accompanied by a more crowded and diverse competitive landscape, with more aggressive activity coming from newer entrants such as services procurement BPO providers and Indian offshore BPO providers.