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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Among the end-users segment, the BFSI segment is expected to drive the growth of the market over the forecast period. The significant investment in automation and AI-based conversational systems to increase business efficiency and customers satisfaction is driving the market growth over the forecast. Moreover, BFSI is one of the largest adopters of IT application outsourcing services. To cater to this large market segment, a number, and variety of IT service providers have developed capabilities to deliver outsourcing services to BFSI.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global IT Services Outsourcing Market Report Segment
By Services
- Application/Software Development
- Web Development
- Application Support & Management
- Technical Support/Help Desk
- Database Development & Management
- Telecommunications
By Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Enterprise Size
- Large Enterprise
- Small & Medium Enterprises
By Deployment
- Automotive & Transportation
- Aerospace & Defence
- BFSI
- Healthcare
- Retail
- Others
Global IT Services Outsourcing Market Report Segment by Region
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
- Latin America
- Middle East & Africa
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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