Global IT Outsourcing Market in Capital Markets 2015-2019
About IT Outsourcing
IT outsourcing is the process of subcontracting IT functions of an organization to a third-party vendor that has expertise in the required domains. It is an effective strategy to build a high-performance IT organization. IT outsourcing helps firms to increase their operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with latest technologies, and build an economical cost structure in the long run. The demand for IT outsourcing comes primarily from the BFSI, Government, and Manufacturing sectors. Sectors such as Retail and Wholesale; Telecommunications; Energy, Utilities, and Chemicals; Electronics and Hi-tech; and Healthcare and Life Sciences also account for approximately less than 10 percent each. BFSI is the highest contributor to the global ITO market.
TechNavio's analysts forecast the Global IT Outsourcing in Capital markets to grow at a CAGR of 4.41 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global IT Outsourcing in Capital markets for the period 2015-2019. The Global IT Outsourcing in Capital markets is categorized into two main segments: Application Outsourcing and Infrastructure Outsourcing.
TechNavio's report, Global IT Outsourcing in Capital Markets 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the global IT Outsourcing in Capital markets and its growth prospects in the coming years. The report also includes a detailed discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global IT Outsourcing Market in Capital Markets 2015-2019
TechNavio recognizes the following companies as the key players in the Global IT Outsourcing Market in Capital Markets: Accenture plc, Cognizant Technology Solutions, IBM Corp. and Tata Consultancy Services Ltd. (TCS)
Other Prominent Vendors in the market are: Aegis, Capgemini, CGI Group, CSC, Dell, EPAM, FIS, HCL, Hexaware, iGate Solutions, Infosys, ITC Infotech, L&T Infotech, Luxoft Holdings, Mindtree, Mphasis, Polaris, Softtek, Syntel, Tech Mahindra, Virtusa, Wipro, WNS and Xerox.
Commenting on the report, an analyst from TechNavio’s team said: “The emergence of cloud-based outsourcing is a rising trend in the market. Several clients are adopting this technology to get instant access to applications of their choice without having to wait for installation. Cloud-based outsourcing offers various other advantages, including cost reduction, reliability, scalability, and agility.”
According to the report, the need for a considerable reduction in operational costs is one of the main drivers of this market, as clients are not required to invest in the acquisition of resources or worry about handling limited available resources.
Further, the report states that one of the major challenges that the market faces is the lack of control over information security. Organizations that outsource their IT activities face the risk of unauthorized access to critical company information.
Accenture, Cognizant Technology Solution, IBM, Tata Consultancy Services , Aegis, Capgemini , CGI Group, CSC, Dell, EPAM, FIS, HCL, Hexaware, iGate Solutions, Infosys, ITC Infotech, L&T Infotech, Luxoft Holdings, Mindtree, Mphasis, Polaris, Softtek, Syntel, TechMahindra, Virtusa, Wipro, WNS, Xerox
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