IT and BPO Services Market expected to grow at CAGR 7.63% by 2023

“IT and BPO Services Market in India 2018-2022”
HTF Announces the Publication of its Research Report – IT and BPO Services Market in India 2018-2022 covering detailed analysis, Competitive landscape, forecast and strategies. The

HTF recognizes the following companies as the key players in the IT and BPO services market in India: Accenture, HCL Technologies, IBM, and Infosys.

Commenting on the report, an analyst from HTF’s team said: “One trend in the market is increased adoption of application outsourcing. 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. Organizations are increasingly outsourcing their application development services, as the present market conditions require speed and agility to deliver services.”

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HTF analysts forecast the IT and BPO services market in India to grow at a CAGR of 7.63% during the period 2018-2022.

According to the report, one driver in the market is rising cost pressure to maintain in-house IT systems. Globalization has resulted in labor arbitrage, which shifts business processes to less expensive locations. Labor arbitrage is regarded as one of the prospective benefits of business process outsourcing and knowledge process outsourcing processes. 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.

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Further, the report states that one challenge in the market is lack of effective communication between client and vendor. Vendors should effectively communicate with their client to deliver the service in a timely manner. Technical communication in outsourcing contract between client and vendor is required to reduce outsourcing risk and build trust. IT outsourcing projects in India could not be successfully implemented if vendors fail to provide required services. Communication is required at various stages of IT service delivery systems to avoid system failures and provide backup and recovery facility.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report,

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Market driver

• Rising cost pressure to maintain in-house IT systems

• For a full, detailed list, view our report

Market challenge

• Lack of effective communication between client and vendor

• For a full, detailed list, view our report

Market trend

• Increased adoption of application outsourcing

• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2022 and what will the growth rate be

• What are the key market trends

• What is driving this market

• What are the challenges to market growth

• Who are the key vendors in this market space

You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

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