IMARC Group has recently released a new research study “IT outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the IT outsourcing Industry?
The global IT outsourcing market size reached US$ 522.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 689.2 Billion by 2027, exhibiting a growth rate (CAGR) of 4.60% during 2022-2027.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a IT outsourcing Market?
IT outsourcing are singular devices designed to perform the function of two different devices in a specific configuration. Some common types of IT outsourcing include rectifiers, insulated-gate bipolar transistors (IGBTs), bipolar transistors, metal–oxide–semiconductor field-effect transistors (MOSFETs), and thyristors. They are used in computers, smartphones, hybrid cars, LED lights, tablets, and portable medical electronics to perform modest electronic functions, including power conversion and voltage regulation. They are portable, easily replaceable, reliable, and offer increased operating speed and lower power consumption. As a result, IT outsourcing find extensive applications in automotive, consumer electronics, and telecommunications industries across the globe.
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What are the major market drivers in the IT outsourcing Market?
The inflating need for improving the quality and safety of healthcare products is primarily driving the IT outsourcing market. Additionally, the growing demand for sterilized pharmaceutical formulations, the rising prevalence of chronic diseases, including cancer, and continuous advancements in medical equipment are further catalyzing the market growth. Besides this, the implementation of numerous favorable policies by government bodies across countries for the utilization of IT outsourcing across the healthcare sector is acting as another significant growth-inducing factor.
Moreover, the widespread adoption of IT outsourcing, such as goggles, gloves, gowns, etc., and the sudden outbreak of the COVID-19 pandemic, are positively influencing the global market. Apart from this, key market players are engaged in training and development, regulatory approvals, collaborative agreements, etc., with other companies. Furthermore, they are also extensively investing in R&D activities to introduce new products, which is anticipated to fuel the IT outsourcing market over the forecasted period.
Who Are The Major Key Players in IT outsourcing Market?
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.
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Report Segmentation
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
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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