Global IT Outsourcing Market Driven by Optimization of Business Process | Technavio
May 16 2018 - 03:02PM
Business Wire
Technavio market research analysts forecast the global
IT outsourcing market to grow at a CAGR of over 4%
during the period 2018-2022, according to their latest report.
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Technavio has published a new market
research report on the global IT outsourcing market from 2018-2022.
(Graphic: Business Wire)
In this report, Technavio highlights the growing digital
transformation in organizations as one of the key emerging trends
in the global IT outsourcing market. The new digital age in
IT businesses is changing the market behavior quickly; businesses
are rapidly accepting IT outsourcing to meet the IT requirements.
Companies realize the benefits of the application of digital
technologies that help them augment their business performance and
deliver better services to their customers. Digital transformation
is not specific to the individual industry, and hence, it affects
all the industries regardless of their product and service
offerings. Companies that are adopting digital technologies are
witnessing a significant change in their performance and business
model. This is supporting the growth of the market as several IT
service providers around the globe are providing support for the
digital transformation of global firms.
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In this report, Technavio analysts highlight the need to
optimize business processes as a key factor contributing to the
growth of the global IT outsourcing market:
Need to optimize business
processes
At present, enterprises have been concentrating on improving the
overall efficiency of the organization. Organizations need
strategic planning that is aligned with their operational strategy
in order to innovate their product and service offerings. IT
outsourcing is helping organizations to align their project
management planning with their business objectives for innovations
and sustainable development. IT outsourcing services help
enterprises in the strategic planning process and provide them with
the means to assign resources for the project development across
various locations globally.
According to a senior analyst at Technavio
for ITO and BPO, “IT outsourcing services help in achieving
capacity optimization, lead time and cost reduction, as well as
profit incrementation. These services boost the processes of an
organization by improving resource control, which improves the
productivity and efficiency of the firm. Many enterprises are
looking for IT outsourcing services that can accelerate their
growth due to the increasing importance of IT systems. Therefore,
the rising requirements to optimize project management and business
processes in organizations are expected to propel the growth of the
global IT outsourcing market during the forecast period.”
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Global IT outsourcing market
segmentation
This market research report segments the global IT outsourcing
market into the following end-users (government, BFSI,
telecommunications, energy and utilities, manufacturing,
healthcare, retail, and media and entrainment) and key regions (the
Americas, APAC, and EMEA).
Of the eight major end-users, the government segment held the
largest market share in 2017, accounting for nearly 35% of the
market. As per the present technology implementation in the
government sector, cloud computing has been rapidly integrated with
government systems to keep up with the growing digitization in the
market.
The Americas was the leading region for the global IT
outsourcing market in 2017, accounting for a market share of
nearly 50%. By 2022, EMEA is expected to register a growth of
nearly 5%.
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version on businesswire.com: https://www.businesswire.com/news/home/20180516006336/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com