NEW YORK, Aug. 26, 2023 /PRNewswire/ — The “IT and BPO Services Market in India“ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 17+ years. The potential growth difference for IT and BPO Services Market in India is USD 116.01 billion, accelerating a CAGR of 9.19%, during the forecast period. The market’s expansion depends on various factors, including the growing cost pressure to maintain in-house IT systems and an increased adoption of application outsourcing.
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Key Market Dynamics:
The rising cost pressures to maintain in-house IT systems are playing a significant role in driving the growth of India’s IT and Business Process Outsourcing (BPO) services market. The process of globalization has led to labour arbitrage, where businesses transfer their operations to more cost-effective locations. Labour arbitrage, in turn, is seen as a potential advantage of business process outsourcing and knowledge process outsourcing.
The trend of outsourcing IT and BPO services empowers client companies to concentrate on their core strengths, giving them a competitive edge in the market. Additionally, the overall cost of operations in India remains substantially lower than in developed nations like the US and the UK.
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Company insights:
Accenture Plc – The company offers IT and BPO services such as supply chain, digital inside sales, and intelligent network services.
Major companies in India:
The IT and BPO Services Market in India research report includes detailed analyses of the competitive landscape of the market and information about major companies, including:
- Accenture Plc
- AEGIS Co.
- Automatic Data Processing inc.
- Cognizant Technology Solutions Corp.
- ExlService Holdings inc.
- Firstsource Solutions Ltd.
- Genpact Ltd.
- HCL Technologies Ltd.
- Hinduja Global Solutions Ltd.
- Infosys Ltd.
- International Business Machines Corp.
- Morae Global Corp.
- Serco Group Plc
- Srisys inc.
- Sutherland Global Services inc.
- Tata Consultancy Services Ltd.
- Tech Mahindra Ltd
- TTEC Holdings inc.
- Wipro Ltd.
- WNS Holdings Ltd.
Market Segment Highlights:
The IT and BPO Services Market in India is segmented by product (IT, BPM, and software and R&D), end-user (finance, insurance, telecom, healthcare, and others), and type (export and domestic).
Regional Opportunities:
The IT and BPO Services Market in India holds promising regional opportunities driven by the unique factors and circumstances in specific geographical areas. These opportunities can include access to natural resources, skilled labor forces, emerging markets, favorable government policies, and more. Developing regions offer potential for growth, urbanization drives real estate opportunities, and innovation clusters foster technological advancements. Untapped markets, cultural hubs, and logistical advantages also contribute to regional growth. Adapting to local dynamics and understanding audience preferences are crucial for companies to effectively capitalize on these opportunities.
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Related Reports:
IT Business Process Outsourcing (BPO) Market: The IT business process outsourcing (BPO) market share is expected to increase by USD 281.25 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.12%. The report extensively covers the IT business process outsourcing (BPO) market segmentation by type (IT-related BPO, contact centers BPO, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
BPO Business Analytics Market: The BPO business analytics market share is expected to increase by USD 18.88 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16%. The report extensively covers BPO business analytics market segmentation by end-user (BFSI, retail, healthcare, manufacturing, and others) and geography (North America, APAC, Europe, MEA, and South America).
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