IT outsourcing market to reach $150Bn by 2027
NEW YORK, UNITED STATES — The global IT outsourcing market is expected to reach $150.06 billion by 2027, growing at a compound annual growth rate (CAGR) of 6.3%.
According to the latest report by market research firm ReportLinker, the market is forecasted to grow from $117.61 billion in 2022 to $124.52 billion in 2023.
Asia-Pacific is expected to be the fastest-growing region for IT outsourcing, surpassing North America, which held the largest market share in 2022.
ReportLinker says the increasing adoption of cloud services, technological advancements, acquisitions, and the growing need for scalability and cost savings are driving this growth.
IT outsourcing entails utilizing third-party providers for IT-enabled business processes, application services, and infrastructure solutions. Sectors that have embraced these services include banking, finance, healthcare, and e-commerce.
