Asia Pacific IT outsourcing market declines in 2015

A report released by IDC showed that the IT outsourcing services market in the Asia-Pacific region, excluding Japan, declined 3.7% year-on-year last year. The report said the region’s IT outsourcing service market reached USD23.1bn in 2015, or lower than the previous year party due to the fundamental shift in the outsourcing market to a new consumption and service delivery model. The report also cited the decline in legacy assets under management in mature markets, such as Australia, New Zealand and Korea. The IDC report, however, noted that while the global ITO market is currently declining, it is expected to growth at a CAGR of 6.9% by 2020 due to the outsourcing deals in emerging markets such as China, India, and Southeast Asian countries.