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Key Players like Accenture, IBM, and Capgemini Drive Growth in IT Outsourcing Market to 2028DUBLIN, Nov. 1, 2023 /PRNewswire/ -- The "IT Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global IT outsourcing market has achieved remarkable growth, surging to a substantial US$550.5 billion in 2022. Industry experts foresee even greater prospects ahead, with the market projected to reach US$720.2 billion by 2028, showcasing a commendable Compound Annual Growth Rate (CAGR) of 4.48% during the period from 2023 to 2028. IT outsourcing involves organizations partnering with external service providers to leverage IT-enabled processes, application services, and infrastructure solutions for enhanced business outcomes. This encompasses utility services, Software as a Service (SaaS), and cloud-enabled outsourcing, empowering clients to formulate precise strategies and visions. IT outsourcing delivers cost savings, time efficiency, and uninterrupted workflow support. Presently, organizations worldwide are embracing IT outsourcing to expedite time-to-market, harness external expertise, assets, and intellectual property. Key Trends in the IT Outsourcing Market: The global COVID-19 pandemic prompted businesses worldwide to reevaluate their budgets and outsource non-core functions to maintain financial stability and mitigate the pandemic's impact. Additionally, as maintaining in-house data storage facilities entails substantial capital investments, companies are opting to outsource data storage due to lower labor costs, cost-effective infrastructure, and significant tax savings benefits. In the intensely competitive global landscape, small and medium-sized enterprises (SMEs) without the resources for in-house auxiliary departments are turning to IT outsourcing to boost efficiency and expand thir global footprint. Furthermore, the healthcare sector is increasingly incorporating IT services to revolutionize operations. Healthcare firms are leveraging IT outsourcing to manage finances while maintaining IT systems. Services include coding and billing, medical transcriptions, insurance claim processing, virtual assistants, and customer support, all of which accelerate medical workflows and research processes, positively influencing the market. Key Market Segmentation: Breakup by Service Model:
Breakup by Organization Size:
Breakup by End User:
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Competitive Landscape: Prominent players in the industry include Accenture plc, 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. Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/80st1a About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/key-players-like-accenture-ibm-and-capgemini-drive-growth-in-it-outsourcing-market-to-2028-301974808.html SOURCE Research and Markets |