The IT Outsourcing Global Market Report 2023 by The Business Research Company, provides it outsourcing market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s IT Outsourcing Global Market Report 2023, the market size is expected to grow from$117.61 billion in 2022 to $124.52 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IT outsourcing market size is expected to reach $150.06 billion in 2027 at a CAGR of 6.3%.
The growing adoption of cloud services is expected to propel the growth of the IT outsourcing market going forward. Cloud services combines computation, storage, and network infrastructure to enable rapid application creation and dynamic scaling. IT Outsourcing has grown increasingly prevalent as it allows access to larger global markets. These IT outsourcing functionalities ensures scalability, easier access to subject matter experts, lower costs and to focus resources on core business development.
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The it outsourcing market is segmented:
1) By Service: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By Deployment: Public Cloud, Private Cloud
4) By End-User: Banking, Financial Services And Insurance (BFSI), Healthcare, Media And
Top Major Players:
International Business Machines Corporation
Accenture PLC
NTT Corporation
Capgemini SE
Dell Technologies Inc
Asia-Pacific was the largest region in the gasoline stations market in 2022.
Telecommunication, Retail And E-Commerce, Manufacturing, Other End-Users
Technological advancement are a key trend gaining popularity in the IT outsourcing market. Major companies operating in the IT outsourcing market are focused on developing innovative solutions to strengthen their position in the market. For instance, in November 2021, Oracle Corporation, a US-based computer technology corporation, launched Oracle Cloud Infrastructure (OCI) AI services, a set of services designed to make it easier for developers to incorporate AI into their applications without having data science knowledge. It includes OCI language, OCI speech, OCI vision, OCI anomaly detection, OCI forecasting, and OCI data labeling. The uniqueness of this product is that all of these services are at the core of Oracle AI, a set of artificial intelligence, machine learning, and data science capabilities that includes Oracle Digital Assistant, as well as OCI Data Science and Oracle Database Machine Learning, which are used for developing, maintaining, and delivering models based on machine learning.
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The it outsourcing market report table of contents includes:
1. Executive Summary
2. IT Outsourcing Market Characteristics
3. IT Outsourcing Market Trends And Strategies
4. IT Outsourcing Market – Macro Economic Scenario
5. IT Outsourcing Market Size And Growth
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26. Africa IT Outsourcing Market
27. IT Outsourcing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IT Outsourcing Market
29. IT Outsourcing Market Future Outlook and Potential Analysis
30. Appendix
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