Study Reveals Outlook of Outsourcing Processes and Services

Around 300,000 jobs are outsourced by the United States annually, according to the study.

Stock On The Plant Floor
Getty Images

An increasing number of organizations around the globe are looking to outsource some of their essential and non-essential business functions to third-party businesses to streamline workflow and save on costs, according to the latest findings from Capital Counselor. So much so that today, outsourcing has become a way of life for many startups and large firms.

Here’s a Top 10 list of U.S. outsourcing statistics:

 

·        In 2019, the worldwide outsourcing market was worth $92.5 billion.

·         59% of companies outsource to save money and cut costs.

·         14.3 million workers is how many U.S. overseas affiliates hired back in 2015.

·         In 2017, 84.2% of outsourcing deals came from the United States.

·         60% of the work being outsourced is related to the IT industry.

·         India is the world’s top country for business process outsourcing.

·         Around 300,000 jobs are outsourced by the United States annually.

·         Following the economic crisis of 2008, 86% of those surveyed said that outsourcing had a negative impact on the U.S. economy.

·         23% of companies state that cybersecurity issues are the main reason they opt to not outsource their services.

·         Around 37% of small businesses outsource to handle at least one of their business processes.

Latest