According to a latest report, global spending on IT outsourcing (ITO) services is on the track to reach $251.7 billion by year end. If reports are to be believed, the $251.7 billion value is 2.1 percent more from $246.6 billion in 2011.

It is reportedly said that cloud computing service segment is the fastest-growing segment in the ITO market which is expected to grow over 48 percent in 2012 to $5 billion, up from $3.4 billion in 2011. 

Gregor Petri, Director at Gartner research has recently shared his views on the emergence of cloud computing. He stated, cloud computing services primarily provide automation of basic functions. As next-generation business applications are coming to market and existing applications are migrating to use automated operations and monitoring, increased value in terms of service consistency to deleiver personnel reduction.  

The application outsourcing (AO) segment is likely to reach $40.7 billion, which is a 2 percent increase from 2011 spending of $39.9 billion.

As far as growth in Data center outsourcing (DCO) segment is concerned, it is expected to decline by one percent in 2012. Data center outsourcing (DCO) represented over 34 percent of the market in 2011.  

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