If you are a businessperson with ambitions, you must consider outsourcing portions of your company’s processes. Outsourcing has numerous benefits and allows your firm to easily access talent and exponentially grow your firm. All big firms have started outsourcing their business procedures and have seen much success.
But is outsourcing worth it for your firm? To answer that question, we have compiled a list of outsourcing statistics from 2021.
Top 8 Outsourcing Statistics from The Year 2021
Here are some of the essential outsourcing statistics from the year 2021:
1. 30% of businesses in the UK will increase outsourcing in 2022
According to a report from PA consulting group, 30% of UK businesses are planning to outsource more by 2022. This figure indicates that outsourcing is here to stay and will not go away anytime soon.
2. Outsourcing is responsible for creating around 300,000 jobs from the US every year
A massive number of jobs for the United States alone are being produced by outsourcing. Statistics show that 300,000 people are sent overseas for their talent.
3. Most companies and businesses (70%) outsource for cost reduction
According to data, around 70% of firms and enterprises outsource talent to reduce their company costs. The report also says that the second reason for outsourcing is flexibility (about 40% of firms).
4. The overall value of outsourced IT services will surpass $413.72 billion by the end of this year
According to statistics, the total value of outsourced IT services will amount to more than $413.72 billion by the end of 2021. Despite the pandemic, IT businesses are doing well, and outsourced talent is booming. In 2020, these tech companies were also responsible for the growth of the IT outsourcing industry.
5. More than half of US marketers think that the covid pandemic did not affect the outsourcing industry in any way
Statistics suggest that more than half (58.5%) of the US marketers saw no changes to the outsourcing marketing activities due to the covid-19 pandemic. This further indicates that outsourcing is here to stay.
6. By 2022, the MSP (manage service provider) market will read $41 billion due to outsourcing security functions
According to data, the managed service provider industry will grow to $41 billion due to security outsourcing. Cybersecurity is one of the essential services in this age, and it’s not hard to understand why people would want to outsource them.
7. Larger firms are 66% more likely to outsource than small firms
According to data, the bigger the firm is, the more likely it will outsource its business operations. This might be because many small firms lack the financial resources to outsource tasks.
8. 80% of small businesses are planning to outsource business tasks this year
Data suggests that while small companies are less likely to outsource, a vast portion of them still plan on outsourcing this year. This could be anything from IT to HR operations.
Overall, outsourcing Proven BPO statistics suggest that the BPO industry is booming. Even though small businesses typically lack the financial resources for outsourcing, many consider this a valuable strategy.
If you are wondering about outsourcing your work to a professional BPO center, EuroCom CX is the right place to get started. Contact Us right now and let us be your quality helping hands.