Read this blog post to find out interesting facts about outsourcing that took place in 2019. Find out why India is the best country to outsource to.
Today more and more enterprises across the world are choosing to outsource. There are several reasons behind this, with cost reduction being the primary reason. The other advantages that make enterprises outsource are better focus on core business skills, scalability, 24/7 services and access to the skills of experts. From established enterprises to startups, outsourcing can benefit every type of organization to gain a competitive edge.
Let’s explore some outsourcing facts and statistics that took place in 2019, so that you can take a decision about outsourcing.
Reasons behind outsourcing
As per recent outsourcing surveys, 59% of enterprises in 2019 outsourced to control/reduce cost. Another 57% outsourced so that they could focus on their business. 47% outsourced to resolve capacity issues and 31% outsourced to improve their service quality. 28% outsourced to get access to skilled professionals, while 17% outsourced mainly outsource to attain a better business environment.
Relationship with outsourcing partners
As per a 2019 Global Outsourcing Survey conducted by Deloitte, over 78% of business owners are satisfied with their outsourcing partner. 42% of outsourcing buyers are from North and South America, while 35% are from Middle East, Europe and Africa. The remaining 23% of outsourcers are from Asia.
Global outsourcing industry
According to surveys by statista, the global market size of today’s outsourcing industry has reached $85.6 in 2019 from a humble $45.6 in 2000. Another survey by insight showed that 65% of businesses would continue to outsource to the same outsourcing partners in 2020. The most popularly outsourced service in 2019 was application development, with 37% of organizations planning to increase the amount of work that they plan to outsource. When it comes deals, over 84.2% of outsourcing deals came from the United States.
The best countries to outsource to
The best countries to outsource to based on skills, availability and cost-effectiveness in 2019 were India, China, Malaysia, Indonesia, Brazil, Vietnam, Philippines, Thailand, Chile and Colombia.
Outsourcing to India
According to reports by NASSCOM, the IT and BPO industry in India has amassed a whopping revenue of $154 billion in the year of 2019. Over the next five years, 40% of India’s workforce is expected to augment their skills in order to meet the requirements of outsourcers.
Popular types of outsourcing
On the global front, ITO (IT outsourcing) and BPO (Business Process Outsourcing) are currently dominating the outsourcing industry. The global ITO industry revenue was an estimated $62 billion in 2019, while the BPO industry reached $23.6 billion in 2019. The global outsourcing market is expected to reach $262.2 billion by the year 2022.
Popularly outsourced services
The most popularly outsourced services in 2018 and 2019 were mobile application development, data entry, BPO, customer support, datacenter operations, database administration, system support, disaster recovery, network operations, web hosting and web operations.
Cloud technology in outsourcing
As per reports by Outsourcing insights, the cloud industry reached up to $200 billion in value in 2019. The revenue of global cloud infrastructure has catapulted from $717 million in 2010 to $26 billion in 2019.
Choose India for Outsourcing
In 2018 and 2019, India was considered the best country for setting up an offshore development center because of its access to skilled professionals and low-cost services. Currently, India holds 65% of outsourced IT jobs. If you are looking for an ideal outsourcing partner, look no further than Outsource2india. We offer a host of services ranging from customer support, to mobile application development, data management, transcription or photo editing services. You name the service, we can provide it. As our partner, you can be assured of access to skilled professionals, 24/7 services, adherence to international quality standards and completion of work within the deadline. Find out more about the services we offer.
Did you find any of these facts interesting? Let us know what you think about outsourcing by leaving a comment in the box below. We, at Outsource2india love to hear from you!
Interested to know more?
- Five Signs your Business is ready to Start Outsourcing to India
- Is Outsourcing to India Good for Your Business
Latest posts by vinita (see all)
- Why is Healthcare Market Research a Must for Hospitals and Clinics? - January 17, 2020
- The 4 Key Areas Where Outsourcing Is Heading to In 2020 - January 10, 2020
- 3 Benefits of Hiring A Universal Agent - January 3, 2020