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The global outsourcing market remained steady in the third quarter this year due to transaction activity largely fueled by renewals and a healthy captive market, according to Everest Group, a global consulting and research firm. A one-hour Webinar will be held November 9, 8 a.m. CST, to present study findings and insights.
Everest’s Market Vista: Q3 2010, a quarterly report on global outsourcing and offshoring activity, reports global transaction volumes for the third quarter were similar to the previous quarter with deals accounting for US$3.4 billion in annual contract value (ACV). Outsourcing of IT services (ITO) improved while Business Process Outsourcing (BPO) activity marginally decreased compared to the previous quarter. ITO activity was led by five “mega deals,” each having contract values over $1 billion, that significantly contributed to the global sourcing market’s 13 percent increase in transaction ACV over the previous quarter.
Other second quarter 2010 findings include:
“The global outsourcing market is holding steady and is being upheld by an increase in contract renewals and traction in the ITO segment,” said Eric Simonson, managing partner of Research. “The slowing growth in BPO is not surprising given a slow post-recessionary recovery as well as anti-offshoring sentiment in the United States.”