LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global IT outsourcing market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
Factors such as the growing complexity of applications and the expenses incurred in aligning IT services to meet the end-goal are encouraging companies to outsource IT application services. IT outsourcing service providers use established standards along with continuous improvement techniques to upgrade applications and cater to the changing business needs. Thus, such a rise in the integration of applications with IT outsourcing is expected to boost market growth over the next few years.
According to Technavio analysts, one of the key factors contributing to the growth of the global IT outsourcing market is the need to optimize business processes.
Global IT Outsourcing Market: Need to Optimize Business Processes
The rising need to optimize business processes will be one of the major drivers for the IT outsourcing market during the next few years. The rising requirement of organizations to align strategic planning with operational efficiency is driving the demand for IT outsourcing. IT outsourcing is helping enterprises plan projects and allocate resources for project development across various locations worldwide. IT outsourcing thus helps to align the organizations project planning with its business objectives. The advantages offered by IT outsourcing such as capacity optimization, lead time and cost reduction, and profit incrementation are fueling the growth of IT outsourcing services market.
According to a senior analyst at Technavio for research on IT consulting & other services, “Apart from the need to optimize business processes, the growing digital transformation in organizations and the need to adhere to regulatory guidelines and ensure compliance are two other factors that are expected to boost market growth during the forecast period.”
Global IT Outsourcing Market: Segmentation Analysis
The global IT outsourcing market research report provides market segmentation by service (infrastructure outsourcing and application outsourcing) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 50% share, followed by the EMEA and APAC respectively. However, during the forecast period the EMEA region is expected to register the highest incremental growth.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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