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Market Analysis – Global Outsourcing Services
Synergyst, Aug 2006, Pages: 58
Outsourcing, or placing internal operations in the hands of an external provider, has been around for decades. Although it has gone in and out of fashion over the years, outsourcing has reached a new level of popularity. As a result, the outsourcing industry is evolving rapidly in terms of the types of services outsourced, how and where these services are provided, and the characteristics of companies that are taking advantage of outsourcing.
Global outsourcing is a $550 billion industry, and yet the top five players do not even command about 20% market share. The global outsourcing industry is expected to face sweeping consolidation in the next two years, mainly driven by low-cost global competition and broken business models. With globalization expected to hit virtually all large corporate IT departments within the next year, top consultants and analysts expect that by 2006, eight out of ten CIOs will have direct orders to move offshore at least part of the technology services they provide to their businesses.
Offshore outsourcing has managed to become a trend in shaping domestic politics, international trade, and business processes, and the process is fast becoming mainstream in the retail, banking, financial services, insurance, and telecom industries. Offshoring began with overseas manufacturing and, with the help of the Internet, has spread to core business services outsourcing as well. Due to the Internet and low-cost infrastructure like Voice over Internet Protocol (VoIP), the trend of offshoring has reached back-office and customer-facing services with implications for literally millions of highly qualified jobs. Companies are now more prone than ever to move work offshore, and the number of multi-million dollar offshoring contracts increases daily.
This Market Analysis on Global Outsourcing Services focuses on this highly lucrative industry and analyzes the industry in-depth. The report focuses on the key trends of this industry, the barriers and challenges faced, the regulatory environment affecting the industry, growth drivers, the pricing models, sales cycle, and much more. The report also analyzes the major outsourcing hubs which have emerged in today’s date, and the leading players which are responsible for moving the industry to the forefront of the technological revolution taking place at a rapid pace today.
This Market Analysis – Global Outsourcing Services is a comprehensive intelligence information guide to help one understand how this industry functions and what is driving the evolution of outsourcing in today’s business world.
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