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PUBLISHER: IMARC | PRODUCT CODE: 1370416
PUBLISHER: IMARC | PRODUCT CODE: 1370416
IT Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Abstract
Market Overview:
The global IT outsourcing market size reached US$ 550.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 720.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.48% during 2023-2028.
Information technology (IT) outsourcing involves reliance on external service providers to deliver IT-enabled business processes, application services, and infrastructure solutions for effective business outcomes. It also includes utility services, software as a service (SaaS), and cloud-enabled outsourcing that helps clients develop precise strategies and vision. It assists in reducing expenses, increasing time savings and supporting uninterrupted workflow. At present, organizations across the globe are relying on IT outsourcing as it enables enterprises to accelerate time to market and take maximum coverage of external expertise, assets, and intellectual property.
IT Outsourcing Market Trends:
The global outbreak of coronavirus disease (COVID-19) has significantly impacted businesses around the world, which propelled them to revise budgets and outsource non-core functions to maintain financial stability and minimize the impact of the pandemic. Apart from this, as keeping data storage devices and facilities in-house requires substantial capital investments, companies worldwide are outsourcing their data storage to a third party due to lower labor costs, cheaper infrastructure, and significant tax savings advantages. Moreover, due to the fierce global competition in the industry, small and medium scale enterprises (SMEs) that lack the space or labor funds for in-house auxiliary departments are shifting to IT outsourcing for improving efficiency and expanding business globally. Additionally, there is a rise in the incorporation of IT services in the healthcare sector for transforming its operations. As a result, health firms are focusing on IT outsourcing to manage finances while balancing IT maintenance. IT outsourcing healthcare services generally include coding and billing, medical transcriptions, insurance claim processing, virtual assistants, and customer support, which help accelerate medical workflows and research procedures. This, in turn, is influencing the market positively.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IT outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service model, organization size and end user.
Breakup by Service Model:
Software as a Service (SaaS)
Platform as a Service (PaaS)
Infrastructure as a Service (IaaS)
Breakup by Organization Size:
Small and Medium-sized Enterprises
Large Enterprises
Breakup by End User:
BFSI
Healthcare
Media and Telecommunications
Retail and E-commerce
Manufacturing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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:
- How has the global it outsourcing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global it outsourcing market?
- What are the key regional markets?
- What is the breakup of the market based on the service model?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global it outsourcing market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A5860
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global IT Outsourcing Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Service Model
- 6.1 Software as a Service (SaaS)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Platform as a Service (PaaS)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Infrastructure as a Service (IaaS)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Organization Size
- 7.1 Small and Medium-sized Enterprises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Large Enterprises
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by End User
- 8.1 BFSI
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Healthcare
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Media and Telecommunications
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Retail and E-commerce
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Manufacturing
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Accenture plc
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Capgemini SE
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Dell Technologies Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 DXC Technology Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Fujitsu Limited
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 International Business Machines Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Nippon Telegraph and Telephone Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.8 Specialist Computer Centres (SCC)
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Wipro Limited
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.1 Accenture plc
Product Code: SR112023A5860
List of Figures
- Figure 1: Global: IT Outsourcing Market: Major Drivers and Challenges
- Figure 2: Global: IT Outsourcing Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: IT Outsourcing Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: IT Outsourcing Market: Breakup by Service Model (in %), 2022
- Figure 5: Global: IT Outsourcing Market: Breakup by Organization Size (in %), 2022
- Figure 6: Global: IT Outsourcing Market: Breakup by End User (in %), 2022
- Figure 7: Global: IT Outsourcing Market: Breakup by Region (in %), 2022
- Figure 8: Global: IT Outsourcing (Software as a Service (SaaS)) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: IT Outsourcing (Software as a Service (SaaS)) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: IT Outsourcing (Platform as a Service (PaaS)) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: IT Outsourcing (Platform as a Service (PaaS)) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: IT Outsourcing (Infrastructure as a Service (IaaS)) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: IT Outsourcing (Infrastructure as a Service (IaaS)) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: IT Outsourcing (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: IT Outsourcing (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: IT Outsourcing (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: IT Outsourcing (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: IT Outsourcing (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: IT Outsourcing (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: IT Outsourcing (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: IT Outsourcing (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: IT Outsourcing (Media and Telecommunications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: IT Outsourcing (Media and Telecommunications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: IT Outsourcing (Retail and E-commerce) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: IT Outsourcing (Retail and E-commerce) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: IT Outsourcing (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: IT Outsourcing (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: IT Outsourcing (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: IT Outsourcing (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: North America: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: North America: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: United States: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: United States: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Canada: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Canada: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Asia-Pacific: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Asia-Pacific: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: China: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: China: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Japan: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Japan: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: India: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: India: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: South Korea: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: South Korea: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Australia: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Australia: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Indonesia: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Indonesia: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Others: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Others: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Europe: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Europe: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Germany: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Germany: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: France: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: France: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: United Kingdom: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: United Kingdom: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Italy: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Italy: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Spain: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Spain: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Russia: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Russia: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Others: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Others: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Latin America: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Latin America: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Brazil: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Brazil: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Mexico: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Mexico: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Others: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Others: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Middle East and Africa: IT Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Middle East and Africa: IT Outsourcing Market: Breakup by Country (in %), 2022
- Figure 78: Middle East and Africa: IT Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Global: IT Outsourcing Industry: SWOT Analysis
- Figure 80: Global: IT Outsourcing Industry: Value Chain Analysis
- Figure 81: Global: IT Outsourcing Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: IT Outsourcing Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: IT Outsourcing Market Forecast: Breakup by Service Model (in Million US$), 2023-2028
- Table 3: Global: IT Outsourcing Market Forecast: Breakup by Organization Size (in Million US$), 2023-2028
- Table 4: Global: IT Outsourcing Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 5: Global: IT Outsourcing Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: IT Outsourcing Market: Competitive Structure
- Table 7: Global: IT Outsourcing Market: Key Players
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