The global information and communication technology (ICT) industry is constantly changing with continuous innovations and developments of products and services. The industry is majorly driven by growing consumer need for newer technologies, evolution of internet of things (IoT) and ICT’s wide usage in several industries such as retail, telecommunication, healthcare, government and others.
Organizations outsource ICT operations in order to achieve cost reduction, economies of scale and efficiencies. However, ICT outsourcing also raises concerns regarding cyber security. This has forced the service providers to use standards and best practices to improve security and integrity. Adhering to established global standards or certification programs are also a common trend for the ICT providers to be recognized as trusted sources.
ICT outsourcing market can be segmented into information technology (IT) outsourcing, telecommunication outsourcing and media outsourcing. Media outsourcing is fairly young but it is expected to witness high growth through increasing demand for various media services such as video editing, graphics and animation, closed captioning, media audit reporting and even transmission. Telecommunication companies are leveraging business process outsourcing (BPO) or adopting telecommunication outsourcing in order to optimize existing investments and strategizing to acquire and retain more customers. Telecommunication companies are outsourcing various functions such as call center services, billing operations and financial & accounting operations.
IT outsourcing is the largest segment in the overall ICT outsourcing market. It helps organizations to utilize high-level IT expertise at low cost, by eliminating the need to hire full-time technology professionals. Enterprise cloud computing service is the fastest growing segment of the IT services market. The growing adoption of cloud computing services such as software as a service (SaaS), infrastructure as a service (IaaS) and platform as a service (PaaS) is primarily driving the market for enterprise cloud computing services. Other IT services, which are largely outsourced include IT support & training and data center.
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