The amount spent on. Growth among the top 10 providers was positive overall. According to the IT outsourcing statistics by Technavio, the value of the IT outsourcing market is expected to reach $486.16B by 2024 growing at 5% during 2020-2024. Plans for Outsourcing in 2022, by Organization Size. 11. In 2014, when the total revenue reached the highest point, BPO amounted to $76.1 billion, while ITO garnered $28.5 billion. From 2016 to 2017, the country contributed 55% to the global services sourcing market. Summary. IT Outsourcing Statistics 2022 - Avasant IT Outsourcing Statistics 2022 March, 2022 $ 995.00 Buy Outsourcing levels are growing as more organizations take advantage of the cost flexibility that service providers offer. Pay close attention to these top ransomware statistics in 2022: Ransomware cost the world $20 billion in 2021 and that number is expected to rise to $265 billion by 2031. Outsourcing Statistics by Company Size 80% of small businesses plan to outsource at least some of their work in 2022. 23% will outsource finance operations. India is still the leader in global outsourcing. Information technology outsourcing (ITO) involves the use of service providers for delivering IT-reliant business processes, application services, and infrastructure solutions. For your business to survive and flourish in this era, your processes need to keep up with the pace of your target market. Most surveyed outsourcing companies said that although clients wanted agility, scalability, and technology enablement, the cost of the services was the primary decision-making factor. These outsourcing statistics by year show the outsourcing revenue in the IT sector in 2018 was "just" $23.6 billion. Approximately 46% say outsourcing enables them to acquire skill sets that are inaccessible internally. Let's look at the top five software development statistics and trends for 2022. By 2022, businesses are projected to spend over $700 billion annually on outsourcing. In 2016, the technology outsourcing industry spending by business and government in Canada was worth $13 billion. Outsourcing Statistics (Editor's Choice) IT outsourcing will hit about $395 billion in revenue in 2022. 2. (Collective Insights) Figure 3. Outsourcing helps companies reduce costs by about 15% on average. Spending on IT Outsourcing Figure 1. Potential Conflicts. Aside from the United States, outsourcing deals also came from the United Kingdom, Spain, and Australia. The estimated market size of the customer experience in 2018 was $75.1 billion which is predicted to rise to $82.6 billion in 2020. The total revenue of the Business Process Outsourcing industry reached $23.6 billion in 2018. We also use a scatter chart analysis to compare the popularity and potential value of outsourcing each function. Since the turn of the century, the Philippines' outsourcing sector has seen spectacular growth as leading companies throughout the world have benefited from the high quality BPO services offered by the country. (Pearsoned) Australia has 33,523 business process outsourcing companies in 2022. Cloud-based call centers with 500-seats report saving an average of 43%. Among them, 27% of businesses plan to outsource software development services. India has become a hotspot for outsourcing. IT-BPO Philippines Statistics 2022. . 1. Instead of releasing a broad online survey to generate outsourcing statistics, we interviewed 40 client executives, service providers, and lawyers to bring a more qualitative perspective to our findings. 11. Out of 2,118 employees surveyed, 97% of them want to stay working remotely for "at least some of the time." IT Outsourcing Services Market size was valued at USD Million in 2022 and is projected to reach USD Million by 2028, growing at a CAGR from 2022 to 2029. Percentage of Organizations Outsourcing Function (Frequency) Figure 4. By 2022, it is projected that over 40% of India's workers would have improved their skills and become more valuable assets in the growth of business process. Moreover, the global market estimates to reach $262.2 billion until the year 2022. Expanding at an almost exponential rate, one of the largest segments of the IT outsourcing industry is projected to hit a mind-boggling $331.2 billion by 2022. That said, we've compiled a list of robust outsourcing statistics to . Worldwide Managed Cloud Services Deal Penetration for the IT Outsourcing Services Market, 2017-2021 4500 July 2022. Increased IT spending will be accompanied by an increase in outsourcing. On the contrary, spending on outsourcing increased to 13.6% of the average IT budget in 2020. Plans for Outsourcing in 2022, by Organization Size Outsourcing Frequency and Level Figure 3. this research provides key statistics on . This trend could continue in 2022 while the world economy recovers from the pandemic. Outsourced customer experience market to reach by almost $82 billion before 2023 The projected worth of the overall customer experience market translates to a 3.51% compound annual growth rate (CAGR) in a five-year period. We offer website design, development, and digital marketing both as white-label and outsourcing services. 59% of employers worldwide employ Indian workers. 58.8% of US marketers saw no covid-related changes in the outsourcing marketing activities. (Classic Informatic) One in 25 Canadians loses a job due to outsourcing. As of 2020, the value of the global IT outsourcing market is estimated to be around $92.5 billion, which is impressive but still not the highest the industry has even been. The size of the global IT Outsourcing (ITO) market was valued at $556.67 billion in 2020 accounting for 77.75% of the overall market. August, 2020 The continuous development of technology has given the power to consumers. Flexible working arrangements are here to stay The verdict is in - remote work is becoming the new normal. This increase is due to the shift of enterprise IT spending from traditional offerings to cloud-based alternatives. And the value of the IT outsourcing market is expected to grow by about 5% each year in the years 2020-2024, according to the Global Industry Analytics report. The U.S. call center market size is $23.9 billion as of 2022. The top trends emerging in Industry 4.0 include Big Data and Analytics (BDA), Internet-of-Things (IoT), Automation and Artificial Intelligence (AI), and Cloud . 37% of Small Businesses Outsource a Business Process. According to statistics, the global outsourcing market grows restlessly. Analysts find that the outsourcing market remains a dominant force because the financial objectives play a significant role in collaborating with third-party companies. . Outsourcing agreements can be a complex process, but it will save you plenty of hard-ache in the long-run. We could proceed by throwing out here the benefits of outsourcing and make it sound great. Buffer's 2022 State of Remote Work interviewed more than 2,000 people in 16 different countries on their views about remote work. (ATKearney) If you like to take this call further, do give us a call +91 (944).278.9110 (or) send us a message . In the past, when you think of booming BPO industries, you might automatically think of Asian countries such as China, the Philippines, Taiwan and . Plans for Outsourcing in 2022 Figure 2. Despite, or perhaps because of the COVID-19 pandemic, the percentage of their budget IT departments spend on outsourcing continued to rise from 12.7% in 2019 to 13.6% in 2020. 10 Key Outsourcing Statistics to Know in 2022: The revenue of the outsourcing sector worldwide is over $92.5 billion Cost is the primary objective of outsourcing IBM is the biggest outsourcing company in the world revenue-wise IT is the most outsourced function around the world 13.6% of companies' IT budgets goes to outsourcing Despite the previous stat, HR outsourcing statistics are showing no signs of slowing down. 2. The Ultimate List of Outsourcing Statistics By Charles Allnutt | September 16, 2022 Jump straight to the statistics summary U.S. $620 billion BPO market value by 2032 8.5% BPO sector compound annual growth rate by 2032 U.S. $98 billion Expected growth of the tech outsourcing market Revenue growth in the BPO sector About 70 institutions offer IT and computing programs in Hungary, and six of their universities have been listed in the QS World University Rankings. The global HR outsourcing market is expected to grow at a CAGR of 8.69% until 2022. (Statista, 2022) The APAC region holds 23.79% of the fintech startup market, with 6,268 startups. The global market for outsourcing was worth $92.5 billion in 2019. IT outsourcing contracts are vital components in any IT contract negotiation. Outsourcing industry statistics show that the number of companies that outsource essential processes and tasks in 2022 and beyond will significantly increase. The software development sector has been booking for years and has remained highly technical and innovative. Laying down the groundworks. Top 10 Outsourcing Statistics for 2022 Around 300,000 jobs are outsourced by the US annually. The statistics below will show you a clearer picture of the global outsourcing industry. 70% of Outsourcing is for Cost Reduction. (Statista) 71% of financial service companies outsource some of their processes. Trend: An increased demand for outsourcing companies to bridge this gap is expected to continue into 2022. The total contract value of the IT outsourcing market will grow to over $409 billion USD by 2022. 20% will outsource their digital marketing. Figure 1. 5. More than 560,000 Californians have lost their jobs to China since 2001. According to Stratistics MRC, the Global IT Outsourcing Market is accounted for $314.92 billion in 2015 and is expected to reach $481.37 billion by 2022 growing at a CAGR of 6.2% during the forecast period. [Fortunly] 12. Plans for Outsourcing in 2022, by Organization Size Outsourcing Frequency and Level Figure 3. (Statista, 2022) There were 52 unicorns in 2021 just in the payments sector, 42 in crypto and decentralized finance, and 34 in wealth management. Statistics on outsourcing suggest that outsourcing industry's total value is estimated to hit $405.6 billion by 2027. In addition, business process outsourcing spending will reach $212 billion in 2023, up 19% from 2019. The market will have a Compound Annual Growth Rate (CAGR) of 5.1 in 2022-27. 22% of companies say they have plans to move at least some of their operations to India or would consider doing so. Hiring Niche Talent. IT outsourcing investment is expected to reach $519 billion in 2023, up 22% from 2019. (Statista) Indian developers earn $20 to $40 per hour. In 2019 and 2020, it was $15 billion - which is also the projected figure for 2021. The second quarter of 2019 saw outsourcing contracts worth 938 million signed Clutch statistics state that 8 of 10 small companies (80% approximately) had in mind to outsource their businesses at the beginning of 2021 due to different benefits of IT outsourcing. 36% of US Workers are in the Gig Economy. Level agreements. This year, we took a more intimate approach. 36% of call centers use cloud technology. Outsourcing in. March 22, 2022 admin OUTSOURCING STATISTICS A great businessman once said "Data don't lie" and I agree. Outsourcing has grown in the last decade, and recent statistics show that more than two million jobs were outsourced in 2013, with many of those opportunities going to workers in China and India. IT Outsourcing Adoption Analysis The region's sizable STEM and ICT talent base is growing in skillset and number. Outsourcing Statistics (Editor's Choice) Cost reduction is the primary objective of outsourcing. How big is the global IT Outsourcing market? Respondents are spread across the globe, giving us a more complete view of the outsourcing ecosystem. Within the next five years, it's expected to show a CAGR of 8.93%. More and more developers, especially in 2022, are adopting Machine Learning (ML), Artificial Intelligence (AI), and big data solutions. The global IT outsourcing market is expected to grow by $98 billion from 2020 to 2024, expanding at a CAGR of 5%. Revenue is expected to show an annual growth rate (CAGR 2022-2027) of 7.56%, resulting in a market volume of. According to Moore's Law, the processing speed of computers doubles every 18 months.More than that, computing power served as the core engine that spawned modern industries, from telecommunications, mobile phones, manufacturing, internet, services industry, and the whole Industry 4.0 packageartificial intelligence, machine learning, 5G, IoT, bots, and RPA . Worldwide Managed Cloud Services Forecast, 2022-2026: An Extraction View of Technology Outsourcing Services Markets 4500 August 2022. According to market research from 2019 (paywall), the healthcare outsourcing market is projected to reach nearly $450 billion worldwide by 2023. 21% are looking for legal services. 27% of small businesses planned to outsource their IT functions. In 2019, the revenue of the global business process outsourcing (BPO) was $66.5 billion. India tops the list of nations with the most ISO-9000 certified software businesses, accounting for more than 75% of all CMM Level 5 . 5. IT Outsourcing Trends for 2022. Top Ten Key Outsourcing Statistics for 2022 24% of small businesses that outsource at least some of their functions do so to increase efficiency. Posted on February 9, 2022 by Outsource Accelerator. All this means that hiring a third-party specialist can be more profitable in certain cases. The practice of hiring external IT specialists to handle specific in-house tasks becomes more popular nowadays. IT Outsourcing Software Development Statistics in 2021. ( Grand View Research) The Customer service outsourcing market is one of the fastest growing markets in the outsourcing industry. Favoring Nearshore Outsourcing Over Offshore Outsourcing The top reason for outsourcing (70%) is cost reduction. According to GrandViewResearch, the global IT services market (inhouse and provided by third parties) was worth around $715.93 billion in 2020. In 2016, the worldwide ITO service market grew 4.6% in U.S. dollars (5.4% in constant currency) to reach about $283.5 billion. This Article Includes: (Click on a link to go to a particular section) Outsourcing Trends 2021: 13 Key Trends to Watch Out for in 2022. In 2021, the EMEA region had 9,323 fintech startups, rising from 7,385 just a year prior. 3. Statistics have already shown that approximately 85% of logistics leaders were expecting an increase in their outsourcing budget back in 2020. The year-over-year growth rate for the market between 2021 and 2024 is estimated at around 3 to 5%. Technology strategic planners will need to invest to focus on satisfying clients' cloud transformation efforts. For further analysis, we broke down the data in the following ways: Millions of Filipinos now have access to the industry's good, well-paying jobs. Spending on IT Outsourcing. Wanting Business Flexibility and Adaptability. 1. Percentage of Work Outsourced (Level) Figure 5. Surprising work-from-home statistics of 2022. ColorWhistle Technology Services, an Indian-based outsourcing consultant can be the backbone of your business. There are over 1 million tech experts in the Central & East Europe market! The most commonly outsourced jobs in small businesses are accounting and IT - 37% of all accounting and IT tasks get outsourced. IT Outsourcing Services Market Research Report is spread across 104 Pages and provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector. From our community of 600 respondents, we found out that an overwhelming majority planned to increase their outsourcing in the coming year. Spending on IT outsourcing will reach $519 billion in 2023, a 22% rise over 2019. The projected revenue in global IT outsourcing reached nearly $360 billion in 2021. And a recent survey of more than 500 hospitals and . In 2019 the Global Outsourcing Market was Worth $92.5 Billion. The global business process outsourcing market was valued at USD 245.9 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030. Revenue in the Segment IT Outsourcing is projected to reach US$144.80bn in 2022. Big Brands are 66% More Likely to Outsource than Smaller Brands. Ensuring Business Continuity. . Cloud-based call centers report having 27% less downtime. (Infographic) Outsourcing statistics for 2021 reveal 69% of them. With an estimated growth rate of 6.21%, revenue in the business process outsourcing should rise from 2021's projection of 17.1 billion to 21.8 billion by 2025. 83% - My team and I are considering it 11% - My team and I have no plans to increase our outsourcing efforts 6% - Unsure at this time 20% of Small Businesses Used Referrals to Find an Outsourced Team Outsourcing Trends and Statistics for 2022 and Beyond By Kane Dane - 26. In 2019, the enterprise software market is forecast to reach $427 billion USD, up 7.1% from $399 billion in 2018. (Deloitte) 37% of small businesses outsource some business process at least. And finally, the application outsourcing revenue is predicted to be $108.7B in 2021. Prioritizing Quality. According to IDC, the IT industry will generate $5 trillion in sales by 2021, indicating a 4.2 per cent increase. 4. 43% of the IT sector was outsourced, 26% of distribution is now taken care of offshore, 12% of call center jobs are found overseas, and 38% of . (Grandviewresearch, 2021) The military industry accounts - the most significant outsourced transactions earned $100 billion in income. IT Outsourcing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) : March 2022 $ 4750 IT Outsourcing Market Research Report by Service Model, Organization Sizes, Deployment, Industry, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19 : July 2022 $ 3949 IT Outsourcing Market Research Report by Service Model, Organization Sizes, Deployment, Industry, State . According to numerous estimates, global IT investment will climb by 4% in 2021 and even more in 2022. Plans for Outsourcing in 2022 Figure 2. By December 2022, firms will spend more than $700 billion annually on outsourcing. Being around for years now, the work-from-home practice became the only way . 18% of small companies will outsource development tasks. Outsourcing Frequency and Level. It emphasized the importance of healthcare and response, as well as the need for a flexible workplace. Since 2018, the industry has been expanding steadily at a compound annual growth rate of 8.69%. This survey showed an overwhelming yet unsurprising result. The global Software Outsourcing market size is projected to reach multi million by 2028, in comparision to 2021, at unexpected CAGR during 2022-2028 (Ask for Sample Report). Are you considering Ukraine IT outsourcing? Data Center Outsourcing Market Growth Analysis from 2022 to 2029 presents detailed competitive analysis including the market Share, Size, Future scope. Spending on IT Outsourcing Figure 1. Source: Gartner. European Managed and Professional Security Services Market 4950 August 2022. The majority of organizations across sectors are accelerating their digital transformation, especially fintech, healthcare, and telecom. Demanding Better Cybersecurity. There is a constant influx of fresh Hungarian developers in the country as about 3,000 IT students graduate annually on average in Hungary, according to statistic reports from Eurostat. In fact, the fluctuations in the size of the market are quite natural and . The pandemic brought massive changes to the world in all aspects. [Statista] 10. The value of IT services companies delegate to external suppliers may exceed $413.72 billion by the end of 2021, says Statista. IT Outsourcing Adoption Analysis Percentage of Organizations Outsourcing Function (Frequency) Figure 4. Percentage of Organizations Outsourcing Function (Frequency . 2: A Latin America BPO Boom. 10% were looking to outsource human resource operations. Using Modern Technology. IT Outsourcing Managed Service Market Size 2022 : Global Business Trends, Share, Future Demand, Progress Insight, Statistics, Prominent Players and Forecast to 2026 with Leading Regions and . In the year 2019, the outsourcing market amounted to US$ 92.5 billion, and the largest share of the . If you are looking for an outsourcing partner, it is best to act quickly to ensure you secure adequate capacity for your company. Outsourcing contracts cover the following topics: Reward and penalties service. Ultimate outsourcing statistics and reports in 2023 Last updated: July 28, 2022 by Outsource Accelerator Business owners turn to business process outsourcing as a viable option instead of hiring in-house employees. Here are some key reasons why your choice is right: Ukraine has more than 200,000 highly skilled specialists working in the IT industry. Improved company focus, gaining access to exceptional capabilities and reduced costs are some of the major factors driving the market. Statista also predicts the IT outsourcing market to show an annual revenue growth rate of 5.13% in 2021-2025, resulting in an overall market volume of $429.3B by 2025. Large businesses are 128% more likely to outsource work than small businesses. India Outsourcing Statistics to Consider. 2. Increasing demand for consumer goods, IT Outsourcing Services is resistant to corrosion, exhibits high toughness and flexibility, and requires low maintenance are the drivers for the IT . The total IT budget in 2020 grew from 12.7% in 2019 to 13.6%. The IT-BPM Industry experienced growth between 1.4% - 1.8% in 2020; however, growth is expected to pick up again in 2021 and 2022, much of which will be led by digital transformation. 8 in 10 small businesses in the United States plan to outsource work this year to save their organization time and money. And in a global context, most revenue will be generated in the US ($129B 2021). 5. Companies with 50+ employees are more likely to consider outsourcing. (Coveware, 2021) The average fee requested for a ransom was $5,000 in 2018, but it increased to around $200,000 in 2020. 6. General BPO Statistics The worldwide business process outsourcing market was estimated at $245.9 billion in 2021 and is predicted to increase at a 9.1% compound annual growth rate (CAGR) from 2022 to 2030. When you compare the growth of worldwide IT spending in billion U.S. dollars, you will get the following results: 2021 - $4401,9 billion with a growth increase of 10.2%, 2022 - $4534,6 billion with a growth increase of 3%, and 2023 - $4809,6 billion with a projected growth increase of 6.1% according to Gartner. Plans for Outsourcing in 2022 Figure 2. IT services exported from Ukraine in 2020 equal to more than $5 billion. More than 100 Fortune 500 companies used Ukrainian IT services. (Clutch) The global outsourcing market amounted to $95.2 billion in 2019. 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