Report: $1.3 trillion is the size of global IT outsourcing by 2034
A report prepared by precedenceresearch revealed that the size of the global IT services outsourcing market will reach $1.3 trillion by 2034, compared to $611.8 billion in 2024, at a compound annual growth rate of 8.2%.
The Asia-Pacific IT outsourcing market size was around $220.3 billion last year, rising to $491.1 billion in 2034, at a CAGR of 8.34%.
North America’s revenue is expected to grow significantly in this area from 2024 to 2034, supported by increased customer demand for outsourcing of telecom systems management and IT operations.
According to the report, recent years have witnessed an increase in the number of risks associated with data breaches, which has led to an increase in the demand for outsourcing to provide more security to consumers.
It pointed out that the availability of talent and technical skills in the Asia-Pacific region and India will drive the growth of the IT outsourcing services market in the coming years, but competition will be fierce between China, India and Vietnam with the increase in the number of technological innovations and the diversity of value-added service portfolios.
