IT SERVICES OUTSOURCING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In June 2023, Accenture, a leading global professional services company with 732,000 people serving clients in more than 120 countries, acquired Flutura, an India-based industrial AI company headquartered in Bangalore, to bolster its industrial AI services for clients in the energy, chemicals, metals, mining, and pharmaceutical industries. The acquisition of Flutura, which has approximately 110 professionals specializing in industrial data science services, is a strategic move by Accenture to expand its reach in the industrial AI market and help clients achieve high-value outcomes in their production operations.
• In June 2023, Accenture announced plans to invest US$ 3 billion in its Data & AI practice over the next three years. This investment is intended to support clients across various industries in achieving rapid and sustainable transformation, leveraging artificial intelligence to drive higher growth, efficiency, and resilience. Additionally, Accenture's Data & AI practice will expand to offer more industry-specific solutions and pre-built models tailored to the needs of its clients.
• In June 2023, Hewlett Packard Enterprise (HPE), a global edge-to-cloud company, announced the expansion of its partnership with Amazon Web Services (AWS) to facilitate hybrid cloud transformation for enterprises. This enhanced collaboration aims to provide customers with a more streamlined approach to managing and migrating workloads between HPE's on-premises infrastructure and AWS.
• In April 2023, Fujitsu, a leading Japan-based information technology (IT) company, announced the expansion of its digital transformation (DX) consulting capabilities across Europe. The company opened two new Near Response Centers (NRCs) in Spain and Estonia, providing clients with quick access to highly skilled experts who can assist with their digital transformation challenges.
• In March 2023, IBM, a leading global provider of hybrid cloud and AI solutions, announced a partnership with Cohesity, a prominent data security and management company, to address the critical need for resiliency in hybrid cloud environments and data security. The collaboration will integrate the companies' data protection, cyber resilience, and data management technologies to create IBM Storage Defender, a new service that incorporates Cohesity's data protection capabilities. IBM Storage Defender is designed to help enterprises safeguard their data against various threats, including malware, ransomware, and data exfiltration, while providing users with a unified view of data security across cloud, on-premises, and hybrid environments.