The global outsourcing market - additional information
The revenue of the global outsourced services industry rose steadily year over year from 45.6 billion U.S. dollars in 2000 to 99.1 billion in 2012. In 2013, however, the industry saw a drop of around 20 percent in total contract value to 82.9 billion U.S. dollars, showing a reduction in market size. The market recovered the following year, reaching 104.6 billion U.S. dollars, but subsequently dropped in 2015 to around 88.9 billion U.S. dollars. The largest share of revenue for this industry came from Europe, the Middle East and Africa, followed by the Americas. A much smaller share of global revenue came from the Asia Pacific region.
Outsourcing involves the contracting out of business processes to third parties, usually in order for the business to avoid certain costs, such as taxes. In 2015, business process outsourcing contributed a much smaller proportion of the industry’s global revenue than information technology outsourcing, generating 25.4 billion and 63.5 billion U.S. dollars respectively.
Other outsourcing segments within the global industry include business services, energy, healthcare and pharmaceuticals, retail, travel and transport, and telecom and media. In 2014, the global market size of IT healthcare outsourcing was just under 35 billion U.S. dollars, and was forecasted to increase to 50.4 billion U.S. dollars by 2018.