The global IT outsourcing market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The need to optimize business processes will be one of the major drivers in the global IT outsourcing market. IT outsourcing services are increasingly being used by organizations to align strategic planning with operational efficiency. It helps enterprises plan projects and allocate resources for project development across various locations worldwide. In addition, it also helps organizations align project planning with business objectives. Advantages offered by IT outsourcing also include capacity optimization, lead time and cost reduction, and profit incrementation.
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As per Technavio, the rise in integration of application outsourcing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global IT Outsourcing Market: Rise in Integration of Application Outsourcing
The rise in integration of application outsourcing will be one of the critical trends in the global IT outsourcing market. The outsourcing of IT application services by various enterprises have increased due to the growing complexity of applications and the expenses incurred in aligning IT services to meet the end-goal. IT outsourcing service providers use established standards along with continuous improvement techniques to upgrade applications. They also cater to the changing business needs. Thus, such rise in the integration of applications with IT outsourcing is expected to boost market growth over the next few years.
"The rising popularity of SOA and the increasing digital transformation in organizations are some other major factors that will boost market growth during the forecast period," says a senior analyst at Technavio.
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Global IT Outsourcing Market: Segmentation Analysis
This market research report segments the global IT outsourcing market by service (infrastructure outsourcing and application outsourcing), end-user (government, BFSI, telecommunications, energy and utilities, manufacturing, healthcare, retail, media and entertainment, and others), and geographical regions (APAC, Americas, and EMEA).
The EMEA region will witness the highest incremental growth during the forecast period 2018-2022. However, the Americas region will hold the highest market share due to the increasing focus on increasing the overall productivity without losing focus on core businesses in the developed economies including the US.
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Some of the key topics covered in the report include:
Five Forces Analysis
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