IT Outsourcing Market by Services (Application/Software Development, Web Development, Application Support and Management, Technical Support/Help Desk, Database Development and Management and Telecommunication) and End Users (Government, BFSI, Telecom, and Others)
Information technology (IT) outsourcing refers to the sub-contracting of certain functions or to seek resources outside an organization for all or part of an IT function that doesnt require much of technical skills. Short-term assistance or cheaper rates on simple task are the major reasons why companies outsource work.
Outsourcing enables staffing flexibility for an organization and allows them to bring in additional resources when required and release them when they are done, thus fulfilling the cyclic or seasonal demand.
Benefits from a high level of IT expertise excluding the high costs of employing a full-time technology professional drives the market.
Advanced data center network management to limit operational costs also fuels the market. In the contemporary digitalized business world, less companies use call center solutions and rather show trust upon the IT outsourcing company for their needs.
The major restraints for the IT outsourcing market is the data security and online fraud, which seeps in the involvement of third-party service providers. However, the rise in technology field requiring professional assistance and larger workforce is expected to help in the future market growth.
The IT outsourcing market is segmented on the basis of services, end users, and geography. The market segmentation for the services include application/software development, web development, application support and management, technical support/help desk, database development and management and telecommunication.
The market segmentation for end users include government, BFSI, telecom, and others. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players in the IT outsourcing market include Accenture PLC (Republic of Ireland), IBM Corporations (U.S.), APC by Schneider Electric (U.S.), Cisco Systems, Inc. (U.S.), CA Technologies (U.S.), Hewlett-Packard Co.
(U.S.), BMC Software (U.S.), Dell Inc. (U.S.), NetScouts Systems Inc. (U.S.), Fujitsu Ltd.
(Japan), and Tata Consultancy Services Limited (India).
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