IT and BPO Services Market Size in India to Grow by USD 116.01 Bn, IT to be Largest Revenue-generating Product Segment – Technavio – QNT Press Release

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This report analyzes the IT and BPO services market in India by product (IT, BPM, and software and R&D), end-user (finance, insurance, telecom, healthcare, and others), and type (export and domestic)

NEW YORK, Oct. 9, 2022 /PRNewswire/ — The “IT and BPO Services Market in India by Product, End-user, and Type – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offerings. The market size is expected to grow by USD 116.01 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 9.19% during the forecast period, according to Technavio

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IT and BPO Services Market In India: Market Segmentation

By product, the IT segment will be the largest contributor to market growth during the forecast period. Many firms are shifting their IT infrastructure model to IT-as-a-service (ITaaS). To increase business efficiency and reduce CAPEX and OPEX, organizations are using advanced IT solutions such as virtualizations, software-defined data centers, and cloud-based solutions. This is increasing the demand for IT services outsourcing in Indiawhich, in turn, will fuel the growth of the market during the forecast period.

IT and BPO Services Market In India: Major Growth Drivers

The rising cost pressure to maintain in-house IT systems is driving the India IT and BPO services market growth. Globalization has led to labor arbitrage. Hence, companies are shifting their business processes to inexpensive locations. IT and BPO services help client firms to focus on their core competencies and obtain a competitive edge. For arbitrage instance, Furthermore, the total cost of operations in developing countries such as India is lower than that of developed countries such as the US and the UK. Hence, many global companies prefer India as their sourcing location.

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IT and BPO Services Market In India: Key Vendor Offerings

• Accenture Plc – The company offers IT and BPO services such as supply chain, digital inside sales, and intelligent network services.
• Cognizant Technology Solutions Corp. – The company offers IT and BPO services such as enterprise services and cloud enablement.
• HCL Technologies Ltd. – The company offers IT and BPO services such as Hybrid Cloud Services, Digital Workplace Services, and NextGen Network Services.
• Infosys Ltd. – The company offers IT services in various sectors, such as health, transport, justice, immigration, defense, and citizen services.
• International Business Machines Corp. – The company offers BPO services such as Finance Transformation Services and Procurement and Sourcing Services.

IT and BPO Services Market In India: Reasons to Buy Our Report

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will help the IT and BPO services market in India to grow during the next five years
• Estimation of the It and BPO services market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the IT and BPO services market in India across India
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of IT and BPO services market vendors in India

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Full story available on Benzinga.com

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