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IT Services Outsourcing Market (Service Type - Software and Application Development, Website Design and Development, Digital Marketing, Web Hosting, Cloud Computing, Managed Services, Infrastructure, and Others; Organisation Size - Small and Medium, and Large; Location - Onshore, Offshore, and Nearshore; End User - IT, BFSI, Government, Telecom, Healthcare, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : December, 2021

  • Rep Id : ICT003038

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on IT Services Outsourcing Market provides in-depth analysis of segments and sub-segments in the global as well as regional IT Services Outsourcing Market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional IT Services Outsourcing Market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global IT Services Outsourcing Market. According to the report, the global IT Services Outsourcing Market is projected to grow at a CAGR of 7.82% over the forecast period of 2021-2027.

 

Market Insight

Many modern businesses use IT outsourcing as a common method to assist them in implementing their IT needs. As businesses are focusing on their core tasks and minimizing operational costs, the market is expected to witness substantial demand. Planning and implementation of infrastructure, application development, digital transformation initiatives, and software support and maintenance, data center management, managed security, and more are included in IT outsourcing services. IT outsourcing services stand aside for their ability to assist companies in obtaining a distinctive edge over their competition. Thus, this helps in taking off workload from the shoulders of in-house IT staff.

 

The growth in outsourcing of IT services by the end-user industries is driving the market. The businesses are focusing on their core competencies to better deliver projects and offer optimum services to their customers.  The outsourcing of IT services enables the companies to save a huge amount of costs and save on resources on the IT requirements and needs. Furthermore, the in-house productivity increases as certain complex IT tasks are outsourced and the employees are able to focus on daily crucial businesses processes. The external IT service providers mostly have qualified IT staff and a lot of experience. Which further guarantees the quality of the product developed. Also, the number of market players has been growing tremendously in recent years. The growing start-up ecosystem and assured investments are encouraging entrepreneurs to establish their startups in the market. The growth in the number of market players offering IT outsourcing services at low rates is further attracting the customer towards them. This in turn is boosting the market. The only restraining factor in the market is the potential security threats and confidentiality loss. Sometimes it is required to provide sensitive business information to the external IT service provider. Which gives rise to potential security threats and the risk of breach of confidentiality of the project. New opportunities in the market are expected to arise as the end-user industries are getting acquainted with the benefits offered by IT services outsourcing. Thus, ultimately raising its awareness.

 

North America is expected to hold the dominant position in the market. Asia-Pacific is expected to grow at the fastest rate in the market. The IT service outsourcing sentiment among businesses is growing rapidly. The businesses are prioritizing reducing the workload of their IT staff and diverting the freed-up resources to other important projects. The companies are keen on speeding up their project completion pace. Asia-Pacific is expected to be the fastest-growing region in the market. This rapid growth of Asia-pacific can be attributed to the growing number of IT Services Outsourcing providers at low rates as compared to other global companies. s

 

IT Services Outsourcing Market

Segment Covered

The report on global IT Services Outsourcing Market covers segments such as service type, organisation size, location, and end user. On the basis of service type, the sub-markets include software and application development, website design and development, digital marketing, web hosting, cloud computing, managed services, infrastructure, and others. On the basis of organisation size, the sub-markets include small and medium, and large. On the basis of location, the sub-markets include onshore, offshore, and nearshore. On the basis of end user, the sub-markets include IT, BFSI, government, telecom, healthcare, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as IBM Corporation, Accenture PLC, BMC Software, Inc., TATA Consultancy Services, DXC Technology Company, Infosys Limited, ScienceSoft USA Corporation, Fidelity IT Solutions, NTT DATA Corporation, and Capgemini SE.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the IT Services Outsourcing Market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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