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IT Outsourcing Market 2023 - By Size, Share Analysis, Growth Trends And Global Forecast To 2032
IT Outsourcing Market
The Business Research Company's IT Outsourcing Global Market Report 2023 identifies growing adoption of cloud services as the major driver for the IT Outsourcing market's growth in the forecast period. 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.
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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Major competitors in the IT Outsourcing market are International Business Machines Corporation, NTT Corporation, Capgemini SE, Dell Technologies Inc., Fujitsu Limited.
A key trend in the IT Outsourcing market includes technological advancement. Major companies operating in the IT outsourcing market are focused on developing innovative solutions to strengthen their position in the market. For instance, in November 2021, Oracle Corporation, a US-based computer technology corporation, launched Oracle Cloud Infrastructure (OCI) AI services, a set of services designed to make it easier for developers to incorporate AI into their applications without having data science knowledge. It includes OCI language, OCI speech, OCI vision, OCI anomaly detection, OCI forecasting, and OCI data labeling.
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The IT Outsourcing market is segmented -
• 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.
The Business Research Company's "Global IT Outsourcing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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
………………………………..
26. Africa IT Outsourcing Market
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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