BPO outsourcing to grow at 3.3% a year
The overall CAGR for project-based services is expected to be 3.3% over the five year forecast period. Banking, government, and healthcare, as well as what IDC terms other financial services, will be the industries in which the highest growth rates will occur. Healthcare will have an above average CAGR, an estimated 5% from 2005-2009. Driving this growth will be the increased need to utilize project-based services to gain advice, education, and implementation solutions that maximize the healthcare industry's investments in technology and process redesign as a means to improve productivity, manage costs, and increase patient satisfaction. A close second in terms of growth prospects, enterprise-wide integration projects, as well as retail advisor front-office integration and compliance considerations, will fuel the need for project-based services for securities and investment research firms.