Application Outsourcing Market Scope
Application outsourcing helps in the development of cost-effective business processes of various industries such as banking, ICT, retails and others, which allows it to focus on core service areas. The massive growth in ICT and increasing investment in various core industries for arranging a variety of application services such as new application development & maintenance and management of packaged applications from an external provider.
According to AMA, the Global Application Outsourcing market is expected to see growth rate of 4.9%
The Players having a strong hold in the market are Accenture, HCL Technologies, HPE, IBM, TCS. Research Analyst at AMA estimates that United States and Indian Players will contribute to the maximum growth of Global Application Outsourcing market throughout the predicted period.
Accenture (Republic of Ireland), Computer Sciences Corporation (United States), HP (United States), IBM (United States), Capgemini (France), CGI Group (Canada), Cognizant (United States), Dell (United States), EPAM Systems (United States), HCL Technologies (India), Hexaware Technologies (India), Infosys (India), ITC Infotech (India), L&T Infotech (India), Luxoft (Switzerland), Mindtree (United States) and Polaris Financial Technology (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Softtek (Mexico), Syntel (United States), TCS (India), Unisys (United States) and Wipro (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Application Outsourcing market and Region with country level break-up.
On the basis of geography, the market of Application Outsourcing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales
Market Trend
- Rise in the integration of application outsourcing
- Growing digital transformation in organizations
- Increasing adoption of software-defined infrastructure
Market Drivers
- Increased Usage of application Technology in Retail and Banking sector
- Growing digital transformation in organizations
Opportunities
- Increasing IT infrastructure in emerging economies including India, China, Brazil and other
- Advancements in Application Delivery and the Evolution of Software-Defined Age
Restraints
- Shortage of skilled IT professionals in underdeveloped nations
Challenges
- Poor Understanding of the Contract and Post-contract Processes
- Rising cyber-attack worldwide
Key Target Audience
Application developers, Managed security service providers, Monitoring-as-a-service providers, Application Lifecycle Management (ALM) specialists, Regulatory agencies and Government and Quality Assurance (QA)/test engineers