IT Outsourcing Market to Reach USD 98 bn by 2024, Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., emerge as Key Contributors to Growth | Technavio

Technavio has announced its latest market research report titled Global IT Outsourcing Market 2020-2024

LONDON--(BUSINESS WIRE)--Oct 1, 2020--

Technavio has been monitoring the IT outsourcing market and it is poised to grow by USD 98 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global IT Outsourcing Market 2020-2024 (Graphic: Business Wire)

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Frequently Asked Questions:

  • What are the major trends in the market?
    Rise in the integration of application outsourcing is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The year-over-year growth for 2020 is estimated at 3.82% and the incremental growth of the market is anticipated to be $ 98 bn.
  • Who are the top players in the market?
    Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Wipro Ltd., are some of the major market participants.
  • What are the key market drivers and challenges?
    The need to optimize business processes is one of the major factors driving the market.
  • How big is the APAC market?
    The APAC region will contribute 37% of the market share. 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Capgemini Service SAS, Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Larsen & Toubro Ltd., Tata Consultancy Services Ltd., Tech Mahindra Ltd., and Wipro Ltd. are some of the major market participants. The need to optimize business processes will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

IT outsourcing market 2020-2024: Segmentation

IT outsourcing market is segmented as below:

  • End-user
    • Government
    • BFSI
    • Telecommunications
    • Energy And Utilities
    • Manufacturing
    • Healthcare
    • Retail
    • Media And Entertainment
    • Others
  • Service
    • Infrastructure Outsourcing
    • Application Outsourcing
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41083

IT outsourcing market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The IT outsourcing market report covers the following areas:

  • IT outsourcing market Size
  • IT outsourcing market Trends
  • IT outsourcing market Industry Analysis

This study identifies the rise in the integration of application outsourcing as one of the prime reasons driving the IT outsourcing market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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IT outsourcing market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist IT outsourcing market growth during the next five years
  • Estimation of the IT outsourcing market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the IT outsourcing market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of IT outsourcing market vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Service

  • Market segments
  • Comparison by Service placement
  • Infrastructure outsourcing - Market size and forecast 2019-2024
  • Application outsourcing - Market size and forecast 2019-2024
  • Market opportunity by Service

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Accenture Plc
  • Capgemini Service SAS
  • Fujitsu Ltd.
  • HCL Technologies Ltd.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Larsen & Toubro Ltd.
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd.
  • Wipro Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 10/01/2020 02:00 PM/DISC: 10/01/2020 02:01 PM

Copyright Business Wire 2020.

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