The global IT services outsourcing market is anticipated to grow at a significant CAGR of 6.9 % during the forecast period. The increasing adoption of cloud services and rising service launches by players are gaining popularity in the market. Outsourcing cloud services allow the IT team to focus on cloud workflows and applications that require attention. Outsourcing cloud services to managed service providers can potentially be cost-efficient that are attracting businesses to adopt cloud-based outsourcing services. For instance, in July 2021, Wipro launched Wipro’s full stride cloud services. Wipro FullStride Cloud Services works with clients for better business and IT alignment with the cloud imperative, create significant business value, and increase competitive differentiation. It also improve clients’ business agility, embed resilience, and significantly optimize business technology investments in favor of change and innovation.
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The COVID-19 pandemic had significantly driven the market growth, as office-based work is turning into a home office, which in turn emerges the new opportunities for outsourcing serivces. The COVID-19 pandemic has fast-tracked digital transformation for global companies as the crisis has forced an increased reliance on digital tools to communicate and collaborate online securely which had contribute to the market growth. Furthermore, realizing that companies can operate with fewer workers on the payroll without compromising productivity, businesses turned back to scalable external teams whose services are specifically designed for remote business support (with innovative technoology stacks, security policies, and standards compliance).
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global IT Services Outsourcing Market BY Services
- Application/Software Development
- Web Development
- Application Support & Management
- Technical Support/Help Desk
- Database Development & Management
- Telecommunication
Global IT Services Outsourcing Market BY Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global IT Services Outsourcing Market BY Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
Global IT Services Outsourcing Market BY End-User
- Automotive & Transportation
- Aerospace & Defence
- BFSI
- Healthcare
- Retail
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Amadeus IT Group
- Andela Inc.
- ATOS SE
- BMC Software
- Cognizant
- DXC Technologies
- HCL Technologies Ltd.
- Hewlett Packard Enterprise Development LP
- Infosys Ltd.
- NTT Data Corp.
- Oracle Corp.
- Pointwest Technologies
- Tata Cosultancy Services
- Wipro Ltd.
- WNS Global Services
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IT services outsourcing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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