About Information Technology Outsourcing (ITO) in APAC
The ITO market in APAC is gaining ground with increased IT spending and related outsourcing activities by organizations in the region to stay competitive in today’s globalization. ITO services help organizations to manage their IT functions through IT expert team and innovative technologies. C-level executives of the companies have realized benefits of implementing outsourcing services for their IT functions and are increasingly supporting such services. Outsourcing provides benefits in cost savings and efficiencies. It allows companies to focus their energies on core competencies and gain access to world-class best practices.
Technavio’s analysts forecast the ITO market in APAC to grow at a CAGR of 5.80% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the ITO market in APAC for 2016-2020. To calculate the market size, Technavio considers the revenue generated from infrastructure and application outsourcing services.
The market is divided into the following segments based on services:
Technavio Announces the Publication of its Research Report – Information Technology Outsourcing (ITO) Market in APAC 2016-2020
Technavio recognizes the following companies as the key players in the information technology outsourcing (ITO) market in APAC: Accenture, Fujitsu, HP, IBM, and TCS.
Other Prominent Vendors in the market are: Aegis, Amdocs, AT&T, Atos, BT, Capgemini, CGI, Cognizant, CSC, Dell, HCL, iGate, Infosys, Infosys, Unisys, Wipro, and Xerox.
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends for market growth will be increased adoption of application outsourcing. With changing business demand, companies are increasingly outsourcing application development services to ITO service providers to gain a competitive advantage in the marketplace. Organizations in APAC are increasingly outsourcing their application development services as the present market conditions demand speed and agility to deliver services.”
According to the report, emergence of cloud computing will be a key driver for market growth. Almost all enterprises have already moved or are in the process to move their business applications and processes to the cloud. Now, SMEs with limited budgets can also avail cloud services through pay-per-use models. Cloud compute services help automate almost all basic functions that are time-consuming. We expect next-generation business applications to replace existing applications with advanced automated operations and monitoring systems that will surpass the former in terms of agility, service consistency, and labor reduction.
Further, the report states that data security and privacy concerns will be a challenge for the market. Data security and privacy concerns always remain significant challenges in any organization. Companies face pressure to comply with legislations that mandate safety of customers' financial and medical data. This acts as a deterrent for companies looking to outsource their functions, especially if they are unsure of the laws of the country were the business transactions occur.
Accenture, Fujitsu, HP, IBM, TCS, Aegis, Amdocs, AT&T, Atos, BT, Capgemini, CGI, Cognizant, CSC, Dell, HCL, iGate, Infosys, Infosys, Unisys, Wipro, Xerox.
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