The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Growing cloud service use is likely to boost innovation in IT outsourcing manufacturing, propelling the market during the forecast period.

The global IT outsourcing market is expected to grow from $117.61 billion in 2022 to $124.52 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The global IT outsourcing market size is expected to reach $150.06 billion in 2027 at a CAGR of 6.3%.

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Global IT Outsourcing Market Segments Include:

• By Service: Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS)
• By Organization Size: Small And Medium Enterprises, Large Enterprises
• By Deployment: Public Cloud, Private Cloud
• By End-User: Banking, Financial Services And Insurance (BFSI), Healthcare, Media And Telecommunication, Retail And E-Commerce, Manufacturing, Other End-Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global IT outsourcing market in 2021.

Major Market Players in the IT outsourcing market include International Business Machines Corporation, Accenture PLC, NTT Corporation, Capgemini SE, Dell Technologies Inc., Fujitsu Limited, BMC Software Inc., Hewlett Packard Enterprise Company.

Technological innovation is a crucial trend that is gaining traction in the IT outsourcing business. Major players in the IT outsourcing market are focusing on generating novel solutions to increase their market position. Oracle business, a US-based computer technology business, for example, announced Oracle Cloud Infrastructure (OCI) AI services in November 2021, a suite of services aimed to make it easier for developers to incorporate AI into their applications without needing data science experience. OCI language, OCI speech, OCI vision, OCI anomaly detection, OCI forecasting, and OCI data labelling are all part of it. This product is unique in that all of these services are at the heart of Oracle AI, a collection of artificial intelligence, machine learning, and data science capabilities that includes Oracle Digital Assistant, as well as OCI Data Science and Oracle Database Machine Learning, which are used for developing, maintaining, and delivering machine learning models.

The IT Outsourcing Global Market Report 2023  provides a IT outsourcing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The IT outsourcing market forecast analyzes IT outsourcing market size, IT outsourcing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

IT outsourcing is the use of third-party service providers to deliver IT-enabled business processes, application services, and infrastructure solutions to achieve corporate goals. It enables clients to create the greatest sourcing strategy and vision, select the best IT service providers, structure the best contracts feasible, and control long-term win-win cooperation with external suppliers.

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