IT Outsourcing Market Size, Share, Growth, Industry Trends and Report 2023-2028

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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What is IT Outsourcing Market?

Information technology (IT) outsourcing refers to the process of contracting out a portion or all of the information technology functions of a company to external service providers. It encompasses various service models, such as infrastructure outsourcing, software development outsourcing, application management outsourcing, and helpdesk support outsourcing. It allows companies to allocate resources and attention to their core business activities, leading to improved competitiveness and innovation. It also results in cost savings due to reduced labor and infrastructure costs, as well as access to cost-effective offshore resources. It offers flexibility to adapt to changing business needs, scaling IT resources as required without the long-term commitment to hiring additional staff.

What are the Trends in IT Outsourcing Industry?

At present, the increasing demand for IT outsourcing services, as they enable access to a diverse talent pool, fostering innovation and creativity, represents one of the crucial factors impelling the growth of the market. Besides this, the rising adoption of robotic process automation (RPA) and intelligent automation to automate routine IT tasks, reduce operational costs, and increase efficiency is contributing to the growth of the market. In addition, the growing need for robust IT outsourcing partnerships, as companies seek to establish resilient and secure remote infrastructure and support systems, is offering a favorable market outlook. Apart from this, the increasing frequency and sophistication of cyber threats to steal various confidential information is propelling the growth of the market.

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What Is Included In Market 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
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o 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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