According to a newly released IDC study, the worldwide BPO market is vibrant and brimming with opportunity. The comprehensive BPO report finds that worldwide BPO spending will experience a five-year compound annual growth rate (CAGR) of 10.9 percent, growing from $382.5 billion in 2004 to $641.2 billion in 2009. This forecast covers eight BPO markets: human resources, procurement, finance & accounting, customer service, logistics, sales & marketing, product engineering, and training.

"The BPO market continues to gain momentum and present growth opportunities for service providers," said Romala Ravi, program director for BPO Services research at IDC. "Companies' expectations and demands continue to escalate, and companies are becoming more savvy about their options. In this environment - where clients drive vendor strategies - success in clinching and executing on deals will depend on vendors' ability to meet client demand where it's at, empower clients, and present flexible contracting structures."

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