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IT and BPO Services Market in India by Product, End-user, and Type - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 140
  • SKU: IRTNTR40476
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The IT and BPO services market share in India is expected to increase by USD 116.01 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.19%.

This market in India research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market in India segmentation by product (IT, BPM, and software and R&D), end-user (finance, insurance, telecom, healthcare, and others), and type (export and domestic). The India IT and business process outsourcing (BPO) services market report also offers information on several market vendors, including Accenture Plc, AEGIS Co., Automatic Data Processing inc., Cognizant Technology Solutions Corp., ExlService Holdings inc., Firstsource Solutions Ltd., Genpact Ltd., HCL Technologies Ltd., Hinduja Global Solutions Ltd., Infosys Ltd., International Business Machines Corp., Morae Global Corp., Serco Group Plc, Srisys inc., Sutherland Global Services inc., Tata Consultancy Services Ltd., Tech Mahindra Ltd, TTEC Holdings inc., Wipro Ltd., and WNS Holdings Ltd. among others.

What will the IT and BPO Services Market Size in India be During the Forecast Period?

IT and BPO Services Market in India Size

Download Report Sample to Unlock the Market Size in India for the Forecast Period and Other Important Statistics

 

IT and BPO Services Market in India: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The rising cost pressure to maintain in-house IT systems is notably driving the market growth in India, although factors such as lack of effective communication between client and vendor may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IT and BPO services industry in India. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

The rising cost pressure to maintain in-house IT systems is one of the factors fueling the India IT and business process outsourcing (BPO) services market growth. Globalization has resulted in labor arbitrage, which shifts business processes to less expensive locations. Labour arbitrage is regarded as one of the prospective benefits of business process outsourcing and knowledge process outsourcing processes. Thus, IT and BPO services enable client firms to focus on their core competencies and obtain a competitive edge in the market. For instance, India is a country with a vast talent pool of educated professionals with language proficiency. Furthermore, the total cost of operations in India is low when compared to developed countries such as the US and the UK. Therefore, many global companies are opting for India as their sourcing location.

Key Market Trend

Increased adoption of application outsourcing is one of the key market trends propelling market growth. Organizations are adopting application development services that provide modular architectures and are compatible with advanced IT infrastructure such as the cloud. In addition, IT and BPO service providers are developing applications that are embedded with an intelligent system that can handle multi-features and high volumes of data that are gathered from the physical world. Through advanced software development methodology, applications can be automated with their routine tasks that help improve the business process. This, in turn, will propel the market growth in the forecasted period.

Key Market Challenge

Lack of effective communication between client and vendor is one of the factors limiting the India IT and business process outsourcing (BPO) services market growth. Vendors should effectively communicate with their clients to deliver the service in a timely manner. Technical communication in outsourcing contracts between client and vendor is required to reduce outsourcing risk and build trust. IT outsourcing projects in India could not be successfully implemented if vendors fail to provide the required services. The communication gap may arise due to language and cultural differences that can lead to a misunderstanding of instructions provided by vendors. Such a lack of effective communication will limit the market growth in the coming years.

This market in India analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the IT and BPO services market in India as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major IT and BPO Services Market Vendors in India?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • AEGIS Co.
  • Automatic Data Processing inc.
  • Cognizant Technology Solutions Corp.
  • ExlService Holdings inc.
  • Firstsource Solutions Ltd.
  • Genpact Ltd.
  • HCL Technologies Ltd.
  • Hinduja Global Solutions Ltd.
  • Infosys Ltd.
  • International Business Machines Corp.
  • Morae Global Corp.
  • Serco Group Plc
  • Srisys inc.
  • Sutherland Global Services inc.
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd
  • TTEC Holdings inc.
  • Wipro Ltd.
  • WNS Holdings Ltd.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as investing in R&D to compete in the market.

Product Insights and News

  • accenture.com - The company offers IT and BPO services such as Supply Chain, Digital Inside Sales, and Intelligent network services.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

IT and BPO Services Market in India Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market in India, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Product Segments in the IT and BPO Services Market in India?

IT and BPO Services Market in India Share

To gain further insights on the market contribution of various segments Request PDF Sample

The market share growth in the IT segment will be significant during the forecast period. Firms are transforming their IT infrastructure model to the IT-as-a-service (ITaaS) business model to align their corporate business strategy with their IT strategies. Advanced IT solutions such as software-defined data centers, virtualizations, and cloud-based solutions are helping organizations improve business efficiency and reduce CAPEX and OPEX, which is increasing the demand for IT services outsourcing in India. This, in turn, is expected to fuel the growth of the focused market in India, during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

IT and BPO Services Market Scope in India

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.19%

Market growth 2022-2026

$116.01 billion

Market structure

Fragmented

YoY growth (%)

7.65

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, AEGIS Co., Automatic Data Processing inc., Cognizant Technology Solutions Corp., ExlService Holdings inc., Firstsource Solutions Ltd., Genpact Ltd., HCL Technologies Ltd., Hinduja Global Solutions Ltd., Infosys Ltd., International Business Machines Corp., Morae Global Corp., Serco Group Plc, Srisys inc., Sutherland Global Services inc., Tata Consultancy Services Ltd., Tech Mahindra Ltd, TTEC Holdings inc., Wipro Ltd., and WNS Holdings Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this IT and BPO Services Market in India Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size in India and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the IT and BPO services industry in India
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 12: Chart on India - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 13: Data Table on India - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Chart on India: Year-over-year growth 2021-2026 (%)
      • Exhibit 15: Data Table on India: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 16: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 17: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 18: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 19: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 20: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 21: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 22: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 23: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 24: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 25: Chart on Comparison by Product
      • Exhibit 26: Data Table on Comparison by Product
    • 5.3 IT services - Market size and forecast 2021-2026
      • Exhibit 27: Chart on IT services - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 28: Data Table on IT services - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Chart on IT services - Year-over-year growth 2021-2026 (%)
      • Exhibit 30: Data Table on IT services - Year-over-year growth 2021-2026 (%)
    • 5.4 BPM - Market size and forecast 2021-2026
      • Exhibit 31: Chart on BPM - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 32: Data Table on BPM - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Chart on BPM - Year-over-year growth 2021-2026 (%)
      • Exhibit 34: Data Table on BPM - Year-over-year growth 2021-2026 (%)
    • 5.5 Software and R and D - Market size and forecast 2021-2026
      • Exhibit 35: Chart on Software and R and D - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 36: Data Table on Software and R and D - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 37: Chart on Software and R and D - Year-over-year growth 2021-2026 (%)
      • Exhibit 38: Data Table on Software and R and D - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 39: Market opportunity by Product ($ billion)

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 40: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 41: Data Table on End-user - Market share 2021-2026 (%)
    • 6.2 Comparison by End-user
      • Exhibit 42: Chart on Comparison by End-user
      • Exhibit 43: Data Table on Comparison by End-user
    • 6.3 Finance - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Finance - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 45: Data Table on Finance - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 46: Chart on Finance - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Finance - Year-over-year growth 2021-2026 (%)
    • 6.4 Insurance - Market size and forecast 2021-2026
      • Exhibit 48: Chart on Insurance - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 49: Data Table on Insurance - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 50: Chart on Insurance - Year-over-year growth 2021-2026 (%)
      • Exhibit 51: Data Table on Insurance - Year-over-year growth 2021-2026 (%)
    • 6.5 Telecom - Market size and forecast 2021-2026
      • Exhibit 52: Chart on Telecom - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 53: Data Table on Telecom - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 54: Chart on Telecom - Year-over-year growth 2021-2026 (%)
      • Exhibit 55: Data Table on Telecom - Year-over-year growth 2021-2026 (%)
    • 6.6 Healthcare - Market size and forecast 2021-2026
      • Exhibit 56: Chart on Healthcare - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 57: Data Table on Healthcare - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 58: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
      • Exhibit 59: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)
    • 6.7 Others - Market size and forecast 2021-2026
      • Exhibit 60: Chart on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 61: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 62: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 63: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 64: Market opportunity by End-user ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 65: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 66: Data Table on Type - Market share 2021-2026 (%)
    • 7.2 Comparison by Type
      • Exhibit 67: Chart on Comparison by Type
      • Exhibit 68: Data Table on Comparison by Type
    • 7.3 Export - Market size and forecast 2021-2026
      • Exhibit 69: Chart on Export - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 70: Data Table on Export - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Chart on Export - Year-over-year growth 2021-2026 (%)
      • Exhibit 72: Data Table on Export - Year-over-year growth 2021-2026 (%)
    • 7.4 Domestic - Market size and forecast 2021-2026
      • Exhibit 73: Chart on Domestic - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 74: Data Table on Domestic - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Chart on Domestic - Year-over-year growth 2021-2026 (%)
      • Exhibit 76: Data Table on Domestic - Year-over-year growth 2021-2026 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 77: Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 79: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 80: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 81: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 82: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 83: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 84: Matrix on vendor position and classification
            • 11.3 Accenture Plc
              • Exhibit 85: Accenture Plc - Overview
              • Exhibit 86: Accenture Plc - Business segments
              • Exhibit 87: Accenture Plc - Key news
              • Exhibit 88: Accenture Plc - Key offerings
              • Exhibit 89: Accenture Plc - Segment focus
            • 11.4 Cognizant Technology Solutions Corp.
              • Exhibit 90: Cognizant Technology Solutions Corp. - Overview
              • Exhibit 91: Cognizant Technology Solutions Corp. - Business segments
              • Exhibit 92: Cognizant Technology Solutions Corp. - Key news
              • Exhibit 93: Cognizant Technology Solutions Corp. - Key offerings
              • Exhibit 94: Cognizant Technology Solutions Corp. - Segment focus
            • 11.5 HCL Technologies Ltd.
              • Exhibit 95: HCL Technologies Ltd. - Overview
              • Exhibit 96: HCL Technologies Ltd. - Business segments
              • Exhibit 97: HCL Technologies Ltd. - Key offerings
              • Exhibit 98: HCL Technologies Ltd. - Segment focus
            • 11.6 Infosys Ltd.
              • Exhibit 99: Infosys Ltd. - Overview
              • Exhibit 100: Infosys Ltd. - Business segments
              • Exhibit 101: Infosys Ltd. - Key news
              • Exhibit 102: Infosys Ltd. - Key offerings
              • Exhibit 103: Infosys Ltd. - Segment focus
            • 11.7 International Business Machines Corp.
              • Exhibit 104: International Business Machines Corp. - Overview
              • Exhibit 105: International Business Machines Corp. - Business segments
              • Exhibit 106: International Business Machines Corp. - Key offerings
              • Exhibit 107: International Business Machines Corp. - Segment focus
            • 11.8 Serco Group Plc
              • Exhibit 108: Serco Group Plc - Overview
              • Exhibit 109: Serco Group Plc - Business segments
              • Exhibit 110: Serco Group Plc - Key news
              • Exhibit 111: Serco Group Plc - Key offerings
              • Exhibit 112: Serco Group Plc - Segment focus
            • 11.9 Tata Consultancy Services Ltd.
              • Exhibit 113: Tata Consultancy Services Ltd. - Overview
              • Exhibit 114: Tata Consultancy Services Ltd. - Business segments
              • Exhibit 115: Tata Consultancy Services Ltd. - Key news
              • Exhibit 116: Tata Consultancy Services Ltd. - Key offerings
              • Exhibit 117: Tata Consultancy Services Ltd. - Segment focus
            • 11.10 Tech Mahindra Ltd
              • Exhibit 118: Tech Mahindra Ltd - Overview
              • Exhibit 119: Tech Mahindra Ltd - Business segments
              • Exhibit 120: Tech Mahindra Ltd - Key offerings
              • Exhibit 121: Tech Mahindra Ltd - Segment focus
            • 11.11 Wipro Ltd.
              • Exhibit 122: Wipro Ltd. - Overview
              • Exhibit 123: Wipro Ltd. - Business segments
              • Exhibit 124: Wipro Ltd. - Key news
              • Exhibit 125: Wipro Ltd. - Key offerings
              • Exhibit 126: Wipro Ltd. - Segment focus
            • 11.12 WNS Holdings Ltd.
              • Exhibit 127: WNS Holdings Ltd. - Overview
              • Exhibit 128: WNS Holdings Ltd. - Business segments
              • Exhibit 129: WNS Holdings Ltd. - Key offerings
              • Exhibit 130: WNS Holdings Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 131: Inclusions checklist
                • Exhibit 132: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 133: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 134: Research methodology
                • Exhibit 135: Validation techniques employed for market sizing
                • Exhibit 136: Information sources
              • 12.5 List of abbreviations
                • Exhibit 137: List of abbreviations
              • Engineering and Research and Development Services

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                IT and BPO Services market growth will increase by $83.60 billion during 2019-2024.
                The it and bpo services market is expected to grow at a CAGR of 7.82% during 2019-2024.
                Technavio has segmented the it and bpo services market by product (IT services, BPM, and Software and R and D) ,type (Export and Domestic) , and material (Wood, Metal, and Others).
                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. are a few of the key vendors in the it and bpo services market.
                North America will register the highest growth rate of 83.05% among the other regions. Therefore, the it and bpo services market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the it and bpo services market growth are:
                • Rising cost pressure to maintain in-house IT systems
                • Emergence of online furniture stores
                The it and bpo services market vendors should focus on grabbing business opportunities from the it services segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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                • Five-force market analysis

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