IT and BPO Services Market in India 2018-2022
About IT and BPO Services
IT and business process outsourcing (BPO) services help organizations in creating, managing, and optimizing information and business processes with business and technical expertise. They also aid in managing IT systems and are process focused. These services focus on providing a framework to structure IT-related activities.
Technavio’s analysts forecast the IT and BPO services market in India to grow at a CAGR of 7.63% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the IT and BPO services market in India for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Technavio's report, IT and BPO Services Market in India 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – IT and BPO Services Market in India 2018-2022
Technavio 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 Technavio’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.”
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.
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.
Accenture, HCL Technologies, IBM, and Infosys.
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