Global IT Outsourcing Market Size, Industry Trends and Report Statistics 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.

What is IT Outsourcing Market?

IT outsourcing is the practice of delegating some or all of a company's information technology functions to external service providers. This encompasses diverse service models, including infrastructure outsourcing, software development outsourcing, application management outsourcing, and helpdesk support outsourcing. This approach enables companies to focus their resources and efforts on core business activities, thereby enhancing their competitiveness and fostering innovation. Additionally, it leads to cost savings through reduced labor and infrastructure expenses and provides access to cost-effective offshore resources. IT outsourcing also offers flexibility, allowing businesses to adjust their IT resources as needed without the long-term commitment of hiring additional in-house staff.

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What are the Trends in IT Outsourcing Industry?

Currently, the market is experiencing significant growth driven by several key factors. Firstly, there's a rising demand for IT outsourcing services, primarily because they provide access to a diverse talent pool, fostering innovation and creativity within organizations. Secondly, the increasing adoption of robotic process automation (RPA) and intelligent automation for streamlining routine IT tasks, reducing operational costs, and enhancing efficiency is further fueling market expansion. Additionally, there's a growing necessity for strong IT outsourcing partnerships as companies seek to establish resilient and secure remote infrastructure and support systems, creating a favorable market outlook. Furthermore, the escalating frequency and sophistication of cyber threats aimed at stealing sensitive information are also driving market growth.

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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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This release was published on openPR.