IT Outsourcing Market to Reach USD 98 bn by 2024, Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., emerge as Key Contributors to Growth | Technavio
Technavio has been monitoring the IT outsourcing market and it is poised to grow by USD 98 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Rise in the integration of application outsourcing is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 3.82% and the incremental growth of the market is anticipated to be $ 98 bn.
Who are the top players in the market?
Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Wipro Ltd., are some of the major market participants.
What are the key market drivers and challenges?
The need to optimize business processes is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 37% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Wipro Ltd. are some of the major market participants. The need to optimize business processes will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The IT outsourcing market report covers the following areas:
IT outsourcing market Size
IT outsourcing market Trends
IT outsourcing market Industry Analysis
This study identifies the rise in the integration of application outsourcing as one of the prime reasons driving the IT outsourcing market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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IT outsourcing market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist IT outsourcing market growth during the next five years
Estimation of the IT outsourcing market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the IT outsourcing market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of IT outsourcing market vendors
Table of Contents:
Executive Summary
Market Overview
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Service
Market segments
Comparison by Service placement
Infrastructure outsourcing - Market size and forecast 2019-2024
Application outsourcing - Market size and forecast 2019-2024
Market opportunity by Service
Customer landscape
Overview
Geographic Landscape
Geographic segmentation
Geographic comparison
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Market drivers
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher priced units
Market challenges
Market trends
Vendor Landscape
Overview
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Accenture Plc
Capgemini Service SAS
Fujitsu Ltd.
HCL Technologies Ltd.
Hewlett Packard Enterprise Co.
International Business Machines Corp.
Larsen & Toubro Ltd.
Tata Consultancy Services Ltd.
Tech Mahindra Ltd.
Wipro Ltd.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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