The most notable figures in any outsourcing statistics report is the continued upswing trend for this kind of business solution. The outsourcing industry has been posting annual growth rates since its inception some decades back. In fact current figures values this robust industry to a staggering $20 billion USD.
The information technology sector has been dominating the outsourcing market grabbing 28% market share. This means that more and more IT companies are outsourcing their software and technology solutions development to offshore outsourcing providers. This development is changing the face of the software development market. The shift in software development to offshore companies resulted to significant workforce cutback in industrialized countries. On the other hand, this development also paved the way for a renewed revenue growth and improvement of corporate financials of most software and IT companies. This shows that outsourcing has a concrete impact on the profitability of the software industry.
This increased financial performance due to outsourcing has led other companies to follow suit. In fact, 40% to 50% of the top 500 companies in the world is leveraging on outsourcing for most of their business processes. These include top corporations not related to the IT sector.
Aside from IT and software development, other business processes that are increasingly being outsourced include marketing and sales, human resources, corporate financials and accounting, customer care and support, and office administration. It has been shown by recent studies that outsourcing these services and business segments could bring a remarkable 50% to 70% savings on the variable expenditures of companies.