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The global IT outsourcing market reached a value of US$ 522.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 689.2 Billion by 2027, exhibiting a CAGR of 4.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Information technology (IT) outsourcing involves reliance on external service providers to deliver IT-enabled business processes, application services, and infrastructure solutions for effective business outcomes. It also includes utility services, software as a service (SaaS), and cloud-enabled outsourcing that helps clients develop precise strategies and vision. It assists in reducing expenses, increasing time savings and supporting uninterrupted workflow. At present, organizations across the globe are relying on IT outsourcing as it enables enterprises to accelerate time to market and take maximum coverage of external expertise, assets, and intellectual property.
The global outbreak of coronavirus disease (COVID-19) has significantly impacted businesses around the world, which propelled them to revise budgets and outsource non-core functions to maintain financial stability and minimize the impact of the pandemic. Apart from this, as keeping data storage devices and facilities in-house requires substantial capital investments, companies worldwide are outsourcing their data storage to a third party due to lower labor costs, cheaper infrastructure, and significant tax savings advantages. Moreover, due to the fierce global competition in the industry, small and medium scale enterprises (SMEs) that lack the space or labor funds for in-house auxiliary departments are shifting to IT outsourcing for improving efficiency and expanding business globally. Additionally, there is a rise in the incorporation of IT services in the healthcare sector for transforming its operations. As a result, health firms are focusing on IT outsourcing to manage finances while balancing IT maintenance. IT outsourcing healthcare services generally include coding and billing, medical transcriptions, insurance claim processing, virtual assistants, and customer support, which help accelerate medical workflows and research procedures. This, in turn, is influencing the market positively.
IMARC Group provides an analysis of the key trends in each sub-segment of the global IT outsourcing market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on service model, organization size and end user.
Breakup by Service Model:
Breakup by Organization Size:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture plc, Capgemini SE, Dell Technologies Inc., DXC Technology Company, Fujitsu Limited, International Business Machines Corporation, Nippon Telegraph and Telephone Corporation, Specialist Computer Centres (SCC) and Wipro Limited.
|Base Year of the Analysis||2021|
|Segment Coverage||Service Model, Organization Size, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Accenture plc, Capgemini SE, Dell Technologies Inc., DXC Technology Company, Fujitsu Limited, International Business Machines Corporation, Nippon Telegraph and Telephone Corporation, Specialist Computer Centres (SCC) and Wipro Limited.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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