A record-breaking 92 Business Process Outsourcing (BPO) contracts have been signed during the first half of 2006, according to outsourcing advisory firm, TPI.

Valued at a total of US$11 billion, the contracts represent a 20% growth in BPO TCV over this time a year ago.

Among industry sectors adopting BPO strategies, Financial Services leads the way with 27 contracts worth just over US$4 billion in TCV.

Manufacturing comprised about 31% of total BPO TCV market share this period.

HRO led the BPO market in 2005, but this year’s performance is not as robust. The total value for HRO across industry-wide BPO contracts represents only 22%, compared with last year’s 27% at this time.

In the broader market, including both BPO and information technology outsourcing (ITO) contracts each worth at least US$50 million, the first half of the year saw 150 transactions valued at approximately US$38 billion, up by three% in TCV year-on-year, but down in number by the same%.

Despite a strong first-half for the broader market, the second quarter was much weaker in outsourcing contract volume and value than this year’s first quarter. In total, the first half of 2006 is consistent with last year’s first half, yet indicators that were in play at this time a year ago are not present this year.