Global IT Sourcing Market Dominating the Future Technology and Services – Analysis and Forecast To 2024 By Top Players – Accenture PLC, IBM Corporation,Cisco Systems

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IT Sourcing

IT Sourcing is the process of choosing or procuring information technology resources from a party outside of the organization. Traditionally organizations would outsource their mundane IT activities as a single contract with a single partner which was done mostly as a cost optimization solution – lowest bid would generally get the contract. With a fast changing global economy and evolving business objectives it has become essential for CIOs and IT Managers to create a strategic sourcing plan where the relationship with the vendor would be one of collaboration; ensuring their capability to respond to the organization’s changing business needs in order to deliver value

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The IT Sourcing is developing and expanding at a significant pace. The information technology (IT) outsourcing is precisely referred to the sub-contracting of specific functions or to pursue resources outside an enterprise for all or an individual part of an IT function which do not need much of technical skills. The Short-term assistance or the cheaper rates on simple task are the main reasons why companies operating in the present scenario outsource work.

The Outsourcing process allows staffing flexibility for an enterprise along with permits them to bring in additional resources as and when required & further release them when they are done,  thus satisfying the cyclic or seasonal demand. The IT outsourcing market is primarily driven owing to escalating need to optimize business processes,  surging integration of application outsourcing and Capacity optimization considering the global scenario.

The regional analysis of Global IT Sourcing Market is considered for the key regions such as Asia Pacific,  North America,  Europe,  Latin America and Rest of the World. North America is the fastest growing region across the world in terms of market share. Whereas,  owing to the countries such as China,  Japan,  and India,  Asia Pacific region is anticipated to be the dominating region over the forecast period 2018-2025.

Top IT Sourcing Market Companies –

Accenture PLC, IBM Corporation, Cisco Systems,  Inc, CA Technologies, HP Corporation, Quality Systems,  Inc, Synnex Corporation, Dell Technologies,  Inc

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years.

The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore,  the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.

The report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Services:

  1. Software Development
  2. Web Development
  3. Application Support and Management
  4. Help Desk
  5. Database Development and Management
  6. Telecommunication

By End Users:

  1. Government
  2. BFSI
  3. Telecom
  4. Others

Years considered for the study are as follows:

  • Historical year – 2015, 2016
  • Base year – 2017
  • Forecast period – 2018 to 2025

Target Audience of the Global IT Sourcing Market in Market Study:

  1. Key Consulting Companies & Advisors
  2. Large, medium-sized,  and small enterprises
  3. Venture capitalists
  4. Value-Added Resellers (VARs)
  5. Third-party knowledge providers
  6. Investment bankers
  7. Investors

Although in the past, seen only as a way to reduce cost, IT sourcing has become a tool for every business in the ongoing quest for talent and the business dynamics for specific skills, for differentiation and innovation. Companies need to be clear on their goals and business needs for sourcing, and analyze the pros and cons for onshore, offshore and nearshore outsourcing, in terms of cost, maturity and required skills.

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