workdone outsourcing software industry market size 2017

Research tells us that the Philippines has a much lower cost of living than other countries. Outsourcing statistics by country say that companies outsourcing to the Philippines can reduce their wage payouts by up to 90%. Technology, call centers, human resources, and manufacturing are the four most often outsourced industries. Therefore, they have overseas branches operating in foreign markets. Job outsourcing helps US companies be competitive in the global marketplace. US overseas affiliates employ 14.4 million workers. Additionally, Southern Europe has the largest share of business process outsourcing. Moreover, the Americas account for over half of this revenue. Together, these two types of outsourcing generate $92.5 billion. Business process outsourcing trends suggest that business process outsourcing (BPO) generates $26 billion worldwide.īusiness process outsourcing is closely related to information technology outsourcing because many business processes are technology-based. So, they can reduce overall costs by outsourcing to other countries. A business owner can save around 60% of overall costs with outsourcing.īusiness owners have multiple costs when hiring an employee from the US - recruiting, office space, equipment, training, benefits, paid holidays, and the like. Again, we’ve covered data on outsourcing in some other countries for the sake of comparison.Ĭheck out what happens with outsourcing in the US and worldwide. Other Stats on Outsourcingīy examining and comparing data, we’ve been able to identify why companies in the US decide to use outsourcing as a business strategy. However, almost a fifth of the marketers have noticed an increase in the same activities. The findings show that 58.8% of the respondents haven’t detected any change in outsourced marketing activities. 19.4% of marketers in the US have seen an increase in outsourced marketing activities.Ī survey across 13 sectors in the US investigated whether the pandemic affected the outsourcing of marketing activities. Simultaneously, data center operations, network operations, help desk, and desktop support are the four least outsourced IT functions in 2021.

Outsourcing statistics for 2021 show that application development is one of the most frequently outsourced IT functions. More than 60% of tech companies outsource at least a part of their application development. Newer LPO trends include uncovering the background information before entering into an agreement, and that’s possible because of AI. Considering that this market size was $3 billion a few years ago, we can imagine how high this increase will be. Research shows that the legal process outsourcing market size will rise with a CAGR of over 40% by 2024. Legal process outsourcing trends estimate that the worldwide LPO market size will reach $40 billion by 2024.

In the third quarter of 2019, 66% of transactions were digital-focused. Various data on outsourcing show that this number hasn’t changed since the fourth quarter of 2019. Most of the outsourcing market transactions are digital-focused, while only around 30% are pure traditional services. 70% of transactions in the outsourcing market are digital-focused. Apparently, outsourcing reliable customer support agents retains more clients. For now, more than 50% of all companies employ third-party customer support representatives to improve customer experience. Outsourcing statistics have announced a significant growth of the outsourced customer care services industry in the next couple of years. The outsourced customer care services industry will be worth $110 billion by 2024. In this section, you will find more about key trends that will affect both the global and the US outsourcing market in 2021 and beyond. The outsourcing market is no exception to this rule. With such information, you can see what areas of remote work are going to grow in demand. Outsourcing Trends - Stats, Facts, and Projectionsįiguring out the latest trends in any industry sector is one of the main perks of analyzing statistics.

Workdone outsourcing software industry market size 2017