This IDC study presents forecasts of spending (customer expenditures) for the worldwide offshore IT services market for 2020–2024. This study includes advice to providers of IT services, an analysis of key market and industry trends by importing markets, key market drivers and inhibitors, significant market developments, and highlights of key changes from the prior forecast. This study also updates the previous forecast published in Worldwide Offshore IT Services Forecast, 2019–2023 (IDC #US43778619, April 2019).

"Through Y2K and the Great Recession, offshore IT services has prospered well for two decades with annual spending in 2019, according to IDC, at more than six times that in 2005, reaching more than $80 billion," said David Tapper, vice president for Outsourcing and Managed Cloud Services at IDC. "However, IDC believes that the impact of COVID-19 will be a defining moment in the IT services market in which success for offshore providers, and providers using offshore resources, will require deploying solutions that focus on critical client capabilities that COVID-19 has impacted, helping prepare for potential successive waves of COVID-19, incorporating flexibility into contracts, building flexibility into global delivery models, investing in partnerships with platform providers, pursuing hybrid solutions with public cloud providers, supporting client need for multicloud management, preparing for a new normal, and seeking new markets."



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