IT Outsourcing Service Market Insights Video

According to Cognitive Market Research, the global IT outsourcing service market size was USD 645854.5 million in 2024. It will scale at a compound annual growth rate (CAGR) of 8.5% between 2024 and 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 258341.8 million in 2024 and will proceed at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 193756.4 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 148546.5 million in 2024 and will thrive at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 32292.7 million in 2024 and will evolve at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
• Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 12917.1 million in 2024 and will progress at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
• The mobility solutions category is the fastest-growing service type segment of the IT outsourcing service industry.