IT Services Outsourcing Market is Estimated to Witness High Growth...

IT Services Outsourcing Market is Estimated to Witness High Growth Owing to Offshoring Business Operations to Reduce Costs

Posted 2024-09-09 07:24:33

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The IT services outsourcing market involves the procurement of services such as application development and maintenance, enterprise solutions, infrastructure management from third-party IT service providers. This helps enterprises focus on their core competencies by outsourcing non-core IT services to outside service providers.

Advantages of outsourcing IT Services Outsourcing Market Size include reduced operational costs, access to technical skills and expertise, scalable infrastructure, and compliance with regulatory standards and quality assurance. The growing need to reduce operational costs and capital expenditures is driving enterprises towards outsourcing non-core IT services such as helpdesk, desktop support, and networking services to third-party service providers.

The Global IT Services Outsourcing Market is estimated to be valued at US$ 387.46 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the IT Services Outsourcing are Accenture PLC, Capgemini SE, Cognizant Technology Solutions Corporation, DXC Technology Company, Fujitsu Limited, HCL Technologies Limited, IBM Corporation, Infosys Limited. These players are focusing on strategic partnerships and acquisitions to expand their service portfolios and global footprints.

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