Global IT Outsourcing Market Growth (Status and Outlook) 2023-2029

Global IT Outsourcing Market Growth (Status and Outlook) 2023-2029

IT outsourcing is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in reference to business process outsourcing or BPO, which is the outsourcing of the work that does not require much of technical skills.

LPI (LP Information)' newest research report, the “IT Outsourcing Industry Forecast” looks at past sales and reviews total world IT Outsourcing sales in 2022, providing a comprehensive analysis by region and market sector of projected IT Outsourcing sales for 2023 through 2029. With IT Outsourcing sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IT Outsourcing industry.

This Insight Report provides a comprehensive analysis of the global IT Outsourcing landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on IT Outsourcing portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IT Outsourcing market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IT Outsourcing and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IT Outsourcing.

The global IT Outsourcing market size is projected to grow from US$ 345160 million in 2022 to US$ 406520 million in 2029; it is expected to grow at a CAGR of 2.4% from 2023 to 2029.

The reasons for IT outsourcing include lack of resources and cost reduction. IT outsourcing is sometimes called IT enabled Services (ITES) outsourcing. The typical destinations of overseas IT outsourcing are India and Philippines for the American and European companies and China and Vietnam for the Japanese companies. A combination of high overhead in the United States and strong cultural ties between the domestic and Asian information technology industries have led many companies to outsource labor-intensive software programming to Asia and Eastern Europe.

This report presents a comprehensive overview, market shares, and growth opportunities of IT Outsourcing market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Infrastructure Outsourcing
Application Outsourcing

Segmentation by application
Government
BFSI
Telecommunications
Manufacturing
Healthcare
Retail
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Accenture
HCL Technologies
HPE
IBM
TCS
Oracle
Cognizant
Infosys
CapGemini
NTT Data
Sodexo
ACS
ISS

Please note: The report will take approximately 2 business days to prepare and deliver.