Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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. This 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.
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.
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.
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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