Today, we’re going to explore some of the most valuable Outsourcing statistics for 2023.
Let’s get started.
Key Outsourcing Statistics 2023 – MY Choice
- 45% of companies have planned to increase their outsourcing since the pandemic, often focusing on finding skillsets they can’t access in-house.
- The cloud allows around 90% of companies to embrace more outsourcing opportunities by enabling teams to reach a wider range of distributed professionals.
- By the end of 2023, IT outsourcing should exceed a spend of $1.3 trillion as companies increase their search for digital transformation experts.
- The number one reason for outsourcing for 70% of companies is cost reduction, as outsourcing lowers the costs associated with hiring in-house staff.
- Around 24% of small companies say they outsource to increase efficiency levels. Many small businesses also use outsourcing to access specialist skills.
- Business process outsourcing is set to hit a value of $620 billion by 2032, as companies continue to work collaboratively with contractors.
Outsourcing Industry Statistics
- Up to 48% of companies choose to outsource offshore.
- 45% of companies planned to increase their outsourcing since the COVID19 pandemic started due to a lack of skillset in-house.
- The top reason for outsourcing among 70% of companies is cost reduction.
- Up to 85% of logistics leaders are expected to see an increase in the outsourcing budget.
- India is continuing to grow as the top country to outsource business from.
Global Outsourcing Market Statistics 2023
- The primary enabler in outsourcing for around 90% of companies is cloud.
- 62% of companies around the globe are looking to renegotiate their outsourcing terms and contracts.
- Only 25% of UK-based companies have never outsourced.
- 32% of companies believe they will outsource less after the COVID19 pandemic ends.
- IBM is the largest outsourcing business in the world.
United States Outsourcing Statistics 2023
- Approximately 300,000 jobs are outsourced every year in the US.
- The number of workers US overseas affiliates hired in 2018 was 14.4 million
- Almost 60% of US marketers didn’t see any COVID-related changes in the outsourcing marketing activities.
Small Business Outsourcing Statistics 2023
- Approximately 24% of small companies outsource to increase levels of efficiency.
- A large number of small businesses use outsourcing as a way of accessing specialist skills.
- Larger businesses are 66% more likely to outsource compared to small businesses.
- Up to 37% of small businesses outsource for at least one of their business processes.
Business Process Outsourcing Statistics 2023
- Business process outsourcing is set to hit a market value of $620 billion by the year 2032.
- Up to 54% of companies state that they haven’t seen any change in service quality when choosing to outsource their business process.
- India, China, and Malaysia are the top countries for business process outsourcing.
IT Outsourcing Statistics 2023
- The IT outsourcing market will exceed $1.3 trillion by the end of 2023.
- 83% of IT leaders would like to outsource security.
- More than 65% of organizations are planning on increasing or maintaining their IT outsourcing efforts in the upcoming 2 years.
- IT and business service outsourcing hit record levels in 2021.
- Outsourcing accounted for 13.6% of the total IT budget in 2020/2021.
- The most frequently outsource IT services function is software app development.
Outsourcing Cost Savings Statistics 2023
- 27% of businesses reported a 10-20% cost saving when implementing RPA (robotic process automation).
- Outsourcing in the Philippines can reduce costs by 70-90%.
- Up to 70% of businesses chose to partner with an outsourcing company for cost reduction purposes in 2020.
How Can These Outsourcing Statistics Help You and Your Business?
Global outsourcing is and will continue to be an ever-growing market, helping countless corporations and small businesses. Outsourcing services are constantly in growing demand, and some of the most popular ones include IT, marketing, and sales.
The outsourcing industry offers an invaluable way for businesses of all sizes to gain access to the crucial talent and expertise they might need in a constantly changing business environment.
Outsourcing also allows businesses to grow more comfortable with working with professionals from various countries of the world in a flexible, cloud-based environment.
By offering the benefits of cost reduction, increased efficiency, and greater competitive advantage, outsourcing is only going to continue growing in the upcoming years.