London, 13 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global IT Outsourcing Market 2014-2018, which is expected to grow at a CAGR of 5.71 percent during 2013-2018.
IT outsourcing is the process of subcontracting the IT functions of an organization to a third-party vendor that has expertise in the required domains. It is an effective strategy to build a high-performance IT organization. It helps firms to increase their operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with latest technologies, and build an economical cost structure in the long run.
Key Market Drivers
- Cost-effective Operations
- Focus on Core Capabilities
- Moving up the Value Chain
- Reduced Time-to-market
- Need for Process Standardization
Key Market Trends
- Cloud-based Outsourcing
- New Outsourcing Locations
- Sustainable Outsourcing
- Increased Flexibility in IT Outsourcing Deals
- Increased Use of Social Media
Key Vendors
- Accenture plc
- Computer Sciences Corp. (CSC)
- Fujitsu Ltd.
- Hewlett-Packard Co. (HP)
- IBM Corp.
“Cloud technology is revolutionizing the process of IT outsourcing. Cloud technology allows clients instant access to applications on demand and eliminates the need to invest in IT infrastructure,” says Faisal Ghaus, Vice President of TechNavio.
“Cost reduction, reliability, scalability, and agility are some of the advantages offered by cloud-based outsourcing services.”
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
