Hey there! Before we dive into some cool trends and insights in IT and software outsourcing, here's a quick note: While you're learning all these interesting facts, don't forget that you can reach out to Atrinomy for your outsourcing projects. Now, let's get started!
- Global Market Size: Did you know that the IT outsourcing market was a whopping $342.9 billion big in 2020? And guess what? It's expected to grow to $410.2 billion by 2027. That's a lot of outsourcing! [Reference: https://www.statista.com/statistics/189800/global-it-services-spending-forecast/]
- Top Outsourcing Destinations: India, China, and the Philippines are the go-to places for outsourcing. In fact, India alone takes up about 55% of the global IT outsourcing pie. Pretty impressive, right? [Reference: https://www.nasscom.in/knowledge-center/publications/strategic-review-2020]
- Cost Savings: Here's a fun fact - companies can save up to 60% on their costs by outsourcing to countries with lower labor costs. That's like getting a 60% off sale on your IT services! [Reference: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/operations/us-sdt-global-cost-survey.pdf]
- Focus on Core Business: About 57% of companies outsource so they can focus on what they do best - their core business. It's like having someone else do your chores so you can play! [Reference: https://www2.deloitte.com/us/en/insights/focus/technology-outsourcing-survey.html]
- Rise of Nearshoring: More and more companies are choosing to outsource to nearby countries. It's like having your friend next door help you out instead of calling someone from far away. [Reference: https://www.forbes.com/sites/forbestechcouncil/2021/02/05/the-rise-of-nearshore-outsourcing-and-why-it-matters/?sh=1ec1d1eb75b9]
- Impact of Automation: Automation is changing the game in outsourcing. By 2025, about 30% of outsourcing jobs could be automated. That's a lot of robots doing our work! [Reference: https://www.mckinsey.com/featured-insights/future-of-work/what-jobs-will-be-automated]
- Quality vs. Cost: While saving money is great, companies are now looking for quality and innovation in outsourcing. About 34% of businesses say they outsource to get access to skilled expertise. [Reference: https://www.kpmg.com/Global/en/IssuesAndInsights/ArticlesPublications/Documents/global-outsourcing-survey.pdf]
- Security Concerns: Security is super important in outsourcing. About 68% of companies say data security and privacy are their top priorities when choosing an outsourcing partner. [Reference: https://www.pwc.com/gx/en/services/advisory/cybersecurity/privacy-and-security-survey.html]
- Growth of Cloud Outsourcing: Cloud computing is taking over the outsourcing world. In fact, cloud-based services now make up more than 35% of the total outsourcing market. [Reference: https://www.gartner.com/en/newsroom/press-releases/2020-09-02-gartner-says-worldwide-public-cloud-end-user-spending-to-grow-18-percent-in-2021]
- Freelance Outsourcing: The gig economy is also changing outsourcing. Platforms like Upwork and Freelancer are connecting businesses with freelance IT pros from all over the world. [Reference: https://www.upwork.com/research/freelancing-in-america]
So, what do you think? Pretty interesting stuff, right? Let's keep the conversation going!
