The global IT services outsourcing market size is anticipated to reach USD 937.6 billion by 2027 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. Rising need to reduce operational costs and the lack of in-house information technology engineering talent are anticipated to drive the industry over the forecast period. The IT operations subcontracting industry is witnessing an upsurge in core information technology activities, not just to save capital, but to benefit from skilled and experienced professionals to deliver superior quality solutions.
A
significant number of small-to-medium businesses are likely to fully outsource
their IT operations owing to their constrained infrastructure capacities and
agile methodologies. Rapid transformation of business models to keep pace with
the emerging technologies, such as Artificial Intelligence (AI), Internet-of-Things (IoT), Robotic
Process Automation (RPA), blockchain, and deep learning, are expected to
drive the market. Onshoring of IT services as against offshoring is likely to
grow at a considerable rate over the forecast period.
This
may be attributed to better reliability, control, responsiveness, market
knowledge, and ease of communication. Companies have started subcontracting
application development and maintenance services to onshore service providers
to reduce hidden costs of offshoring. The industry is beholding new markets for
subcontracting IT operations such that companies ensure focus on their core
business and leverage advanced technologies with full capacity to manage the
corporate environment. However, captive centers and data-security related
concerns are a constant roadblock to the otherwise growing industry.
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IT Services
Outsourcing Market Report Highlights
- Service
providers are shifting towards standardization of IT outsourcing solutions
as against customized ones. They are also relying profoundly on mass
automation devices, which will create further opportunities and decrease
the workforce necessary to back critical corporate applications
- The retail
& e-commerce end-use segment is projected to grow at the highest CAGR
over the forecast period owing to the ever-increasing demand for
modernized solutions
- Asia Pacific
is estimated to be the fastest-growing regional market during the forecast
period owing to easy availability of skilled staff, a better quality of IT
solutions, and low costs of projects
- Evolving
markets of APAC, such as Philippines, Thailand, and Vietnam, are the new
outsourcing destinations, which boost the region’s growth
- Some of the
key companies in the market are Accenture PLC; IBM Corp.; Fujitsu Ltd.;
Hewlett Packard Enterprise Development LP; and SAP SE
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IT Services
Outsourcing Market Segmentation
Grand View Research has
segmented the global IT services outsourcing market on the basis of service,
location, end use, and region:
IT Services
Outsourcing Service Outlook (Revenue, USD Billion, 2016 - 2027)
- Application Services
- Emerging Technology Services
- Data Center Operations
- Helpdesk Services
- Infrastructure Capacity Services
- Managed Security Operations
- Network Operations
- Others
IT Services
Outsourcing Location Outlook (Revenue, USD Billion, 2016 - 2027)
- On-shore
- Off-shore
IT Services
Outsourcing End-use Outlook (Revenue, USD Billion, 2016 - 2027)
- Aerospace & Defense
- BFSI
- Healthcare
- Retail & e-commerce
- Telecom & media
- Others
IT Services
Outsourcing Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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