Comprehensive Insights Into The IT Outsourcing Market: Growth Rate, Current Industry Status, And Forecast Until 2032 || International Business Machines Corporation, Fujitsu Limited, NTT Corporation, Capgemini SE

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

IT Outsourcing Market Size, Growth Rate, And Forecast

The global IT outsourcing 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%.

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IT Outsourcing Market Drivers

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. For instance, in January 2023, according to the 2022 State of DevOps Report published by Google, a US-based technology company, in 2022, 26% of users reported using numerous public clouds, up from 21% in 2021. The utilization of hybrid clouds increased from 25% to 42.5%. Therefore, the growing adoption of cloud computing is driving the growth of the IT consulting market.

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IT Outsourcing Market Segments

• By Service: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)

• By Organization Size: Small And Medium Enterprises, Large Enterprises

• By Deployment: Public Cloud, Private Cloud

• By End-User: Banking, Financial Services And Insurance (BFSI), Healthcare, Media And Telecommunication, Retail And E-Commerce, Manufacturing, Other End-Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the IT outsourcing market.

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IT Outsourcing Market Key Players
Major competitors in the IT outsourcing market are International Business Machines Corporation, NTT Corporation, Capgemini SE, Dell Technologies Inc., Fujitsu Limited, BMC Software Inc., Hewlett Packard Enterprise Company, CA Technologies Cisco Systems Inc., DXC Technologies, Infosys Limited, Tata Consultancy Services Ltd.

The Business Research Company's "Global IT Outsourcing Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The IT Outsourcing Market Include:
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
………………
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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