ALTHOUGH the business process outsourcing (BPO) industry may benefit from the economic crisis as more companies seek to cut costs, the sector will nevertheless take a hit as it strives to bag new business contracts.

In a study released yesterday, titled "Contact center outsourcing trends in the Asia-Pacific Market, 2008-2011," research firm Frost & Sullivan said it projects the region’s contact center outsourcing market to grow 14% annually from 2008-2011. It estimated the market last year at $13.7 billion.

The study classified the region’s markets into emerging, growth and mature segments.

Emerging markets include Indonesia, Thailand and Vietnam; growth markets include India, the Philippines, Malaysia and China; while the mature markets are Australia, New Zealand, Japan, South Korea, Hong Kong, Taiwan and Singapore.

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