Through the first three quarters of 2009, Europe surpassed North America as the leading outsourcer, reveals business advisory firm TPI, a unit of information-based services provider Information Services Group.

According to a new report, TPI Momentum Market Trends & Insights 3Q09 Geography Report, Forbes Global 2000 (G2000) companies outspent their North American counterparts by approximately $1.2 billion in average annual contract value (ACV) through the third quarter.

North America, which led the world in outsourcing spending in 2008 with $29.6 billion in ACV, has now been relegated to the second position behind Europe, which last year was at a close second with $28.7 billion.

The TPI report is the latest in the Market Trends & Insights series, which combines market data with TPI's expert analysis to provide a perspective on the sourcing industry.

''Understanding the global outsourcing market requires up-to-date information on local and regional dynamics in every part of the world,'' said Melany Williams, partner and managing director, TPI Momentum. ''This Report offers on-the-ground detail and analysis by TPI experts and advisors to help service providers and others identify and pursue the most promising opportunities – wherever they might lie.''

For each of the six regions, the Report analyses contract trends, delivery centre activity and business and political developments that impact the sourcing industry.