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.
