IT Outsourcing Market Size 2023: Industry Growth, Trends, Global Share and Report by 2028

Industry Overview of IT Outsourcing Market

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How Big Is the IT Outsourcing Market?

The global IT outsourcing market size reached US$ 550.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 720.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.48% during 2023-2028.

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Global Industry Trends and Drivers:

The surge in demand from businesses to recalibrate budgets and delegate non-core functions for financial stability, prompted by the sudden eruption of the COVID-19 pandemic, stands as a leading impetus propelling the growth of the IT outsourcing market. Concurrently, the practice of entrusting data storage to third-party entities gains momentum worldwide due to the allure of reduced labor costs, cost-effective infrastructure, and notable tax-saving benefits, thereby further amplifying market expansion. Additionally, the upward trajectory of small and medium-sized enterprises (SMEs) towards embracing IT outsourcing, facilitated by industry leaders like Capgemini SE, Dell Technologies Inc., DXC Technology Company, Fujitsu Limited, International Business Machines Corporation, Nippon Telegraph and Telephone Corporation, Specialist Computer Centres (SCC), Wipro Limited, and others, plays a pivotal role in enhancing operational efficiency and fostering business growth. Moreover, the integration of these services into the healthcare sector, spanning coding and billing, medical transcriptions, insurance claim processing, virtual assistants, and customer support, all of which expedite medical workflows and research procedures, is poised to provide substantial impetus to the IT outsourcing market in the foreseeable future.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Service Model:
Software as a Service (SaaS)
Platform as a Service (PaaS)
Infrastructure as a Service (IaaS)

Breakup by Organization Size:
Small and Medium-sized Enterprises
Large Enterprises

Breakup by End User:
BFSI
Healthcare
Media and Telecommunications
Retail and E-commerce
Manufacturing
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

The Major Players in the market are 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.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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