COVID-19 Impacts: IT and BPO Services Market in India Will Accelerate at a CAGR of Almost 8% Through 2020-2024|Need to Focus on Core Competencies to Boost Growth|Technavio

LONDON–(BUSINESS WIRE)–#ITandBPOServicesMarketinIndia–Technavio has been monitoring the IT and BPO services market in India and it is poised to grow by USD 83.6 billion during 2020-2024, progressing at a CAGR of almost 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

• What was the value of the IT and BPO services market in India in 2019?
• Technavio says that the value of the market was USD 182.86 billion in 2019 and it is projected to reach USD 266.46 billion by 2024.

• At what rate is the market projected to grow during the forecast period 2020-2024?
• Growing at a CAGR of almost 8%, the market growth will accelerate in the forecast period.

• What is the key factor driving the market?
• The need to focus on core competencies is one of the key factors driving the market growth.

• Who are the top players in the market?
• Accenture Plc, Cognizant Technology Solutions Corp., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Serco Group Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Wipro Ltd., and WNS Holdings Ltd. are some of the major market participants.

• Based on segmentation by product, which segment is expected to hold the highest market share in the market?
• IT services

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Cognizant Technology Solutions Corp., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Serco Group Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Wipro Ltd., and WNS Holdings Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The need to focus on core competencies has been instrumental in driving the growth of the market.

IT and BPO Services Market in India 2020-2024: Segmentation

IT and BPO Services Market in India is segmented as below:

• Product
  • IT Services
  • BPM
  • Software And R&D
• End-user
  • Finance
  • Insurance
  • Telecom
  • Healthcare
  • Others
• Type
  • Export
  • Domestic

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IT and BPO Services Market in India 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our IT and BPO services market in India report covers the following areas:

• IT and BPO Services Market in India Size
• IT and BPO Services Market in India Trends
• IT and BPO Services Market in India Industry Analysis

This study identifies access to new technology, domain expertise, and round the clock service as the prime reasons driving the IT and BPO services market growth in India during the next few years.

IT and BPO Services Market in India 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the IT and BPO services market in India, including some of the vendors such as Accenture Plc, Cognizant Technology Solutions Corp., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Serco Group Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Wipro Ltd., and WNS Holdings Ltd. Backed with competitive intelligence and benchmarking, our research reports on the IT and BPO services market in India are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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IT and BPO Services Market in India 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist IT and BPO services market growth in India during the next five years
• Estimation of the IT and BPO services market size in India and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the IT and BPO services market in India
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of IT and BPO services market vendors in India

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product placement
• IT services – Market size and forecast 2019-2024
• BPM – Market size and forecast 2019-2024
• Software and R and D – Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by End-user

• Market segments
• Comparison by End-user placement
• Finance – Market size and forecast 2019-2024
• Insurance – Market size and forecast 2019-2024
• Telecom – Market size and forecast 2019-2024
• Healthcare – Market size and forecast 2019-2024
• Others – Market size and forecast 2019-2024
• Market opportunity by End-user

Market Segmentation by Type

• Market segments
• Comparison by Type placement
• Export – Market size and forecast 2019-2024
• Domestic – Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

• Overview

Drivers, Challenges, and Trends

• Market drivers
• Volume driver – Demand led growth
• Volume driver – Supply led growth
• Volume driver – External factors
• Volume driver – Demand shift in adjacent markets
• Price driver – Inflation
• Price driver – Shift from lower to higher priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Accenture Plc
• Cognizant Technology Solutions Corp.
• HCL Technologies Ltd.
• International Business Machines Corp.
• Infosys Ltd.
• Serco Group Plc
• Tata Consultancy Services Ltd.
• Tech Mahindra Ltd.
• Wipro Ltd.
• WNS Holdings Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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