it and bpo services market opportunities and challenges by technavio
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IT AND BPO SERVICES MARKET
IN INDIA
An advancing market filled with opportunities
IT AND BPO SERVICES FOR DOMESTIC PURPOSES IS EXPECTED TO INCREASE
IT and business process outsourcing (BPO) services help organizations in creating, managing, and optimizing information and business processes with business and technical expertise. They also aid in managing IT systems and are process focused. These services focus on providing a framework to structure IT-related activities.
IT services product segment contributes more than 58% to the IT and BPO services market in india
The IT and BPO services market in India is expected to grow at a CAGR of around 10% through 2022.
Globalization has resulted in labor arbitrage, which shifts business processes to less expensive locations.
Companies that incorporate an outsourcing strategy need not invest in resources or worry about handling their limited available resources. Outsourcing of data analytics processes helps them gain access to skilled talent and advanced analytics technologies in another country with the maintenance of a lean workforce.
THE MARKET IS FUELED BY RISING COST PRESSURE TO MAINTAIN IN-HOUSE IT SYSTEMS
WORLD'S TOP BRANDS LEAD THE WAY
Accenture
HCL Technologies
IBM
Infosys
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The IT and BPO services market is characterized by numerous vendors.
INCREASED ADOPTION OF APPLICATION OUTSOURCING
Organizations are increasingly outsourcing their application development services, as the present market conditions require speed and agility to deliver services.
With the changing business demand, companies are increasingly outsourcing application development services to the IT and BPO service providers to gain the competitive advantage in the marketplace.
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INCREASING DIGITAL TRANSFORMATION IN ORGANIZATIONS
The new digital era in the IT business is changing the market behavior rapidly, which requires IT solutions that can quickly tune with the business requirements.
Companies realize the benefits of implementation of digital technologies that help them enhance their business performance and deliver superior services to their customers.
of the market share comes from Finance sector
22%
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