According to the report titled ‘Global IT Services Outsourcing Market Size study, by By Service (Professional Services, Managed Services, and Telecom Services ), By Location (On-shore, Off-shore) and Regional Forecasts 2021-2027’, available with Market Study Report, global IT services outsourcing market was worth USD 556.67 billion in 2020 and is expected to register an annual growth rate of 7.7% during 2021-2027, thereby accumulating USD 937.67 billion by the end of analysis timeframe.
 

Increasing awareness related to information security and client centricity in projects, primarily in BFSI and aviation & defense areas, is boosting the expansion of global IT services outsourcing market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3862698/
 

Furthermore, rising adoption of technologies like internet of things (IoT) and cloud computing by organizations to stay updated with the latest elements while decreasing overhead expenses as well as lead time is augmenting the industry outlook.
 

As per a data by Nasscom, nearly 1,250 MNCs from across the globe have set up more than 1,750 global capability centers (GCC) in India in financial year 2019.
 

For the unversed, outsourcing is a practice through which companies hire a third party to handle certain tasks that were or could be done internally. It also involves the transferring of assets or employees from one firm to another.
 

On the contrary, rising concerns about intellectual property confidentiality is likely to hamper the remuneration scope of the marketplace in the coming years.
 

By services, global IT services outsourcing market is bifurcated into professional services, managed services, and telecom services. Based on location, the marketplace is split into on-shore and off-shore.
 

Speaking of geographical terrain, regions like North America, Latin America, Asia Pacific, and Europe are considered to understand the market dynamics. Among these, North America market is recording notable gains at present, owing to outsourcing processes like incorporation testing, execution testing, plan, coding, and esteem examination.
 

Meanwhile, Asia Pacific market is anticipated to progress significantly during 2021-2027, due to development of limit expansions, and reduction in general activity cost.
 

Key players like NTT DATA Corporation, Infosys Limited, Cognizant Technology Solutions Corporation, Capgemini SE, SAP SE, Hewlett Packard Enterprise Company LP, Fujitsu Limited, International Business Machines Corporation, and Accenture plc are profiled in global IT services outsourcing market report.