Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Global Application Outsourcing Market in Banking Sector 2012-2016

Global application outsourcing market: 4.6% CAGR growth forecast between 2012-16


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-01-30 05:43:01 - Global Application Outsourcing Market in Banking Sector 2012-2016 - a new market research report on companiesandmarkets.com

The Global Application Outsourcing market in the Banking sector to grow at a CAGR of 4.63 percent over the period 2012-2016. One of the key factors contributing to this market growth is the considerable reduction of operational cost and time. The Global Application Outsourcing market in the Banking sector has also been witnessing increasing offshoring opportunities for global outsourcing vendors. However, the fear of losing valuable company information could pose a challenge to the growth of this market.

One of the main trends witnessed in the Global Application Outsourcing market is the growing offshore opportunities for global outsourcing vendors. Outsourcing application management to offshore destinations is a profitable business model for banks as it offers the opportunity to establish an economical

 

 

cost structure. Outsourcing to countries such as India reduces the cost of application management to a large extent. While India still remains the top offshore application outsourcing destination, banks are exploring other destinations such as Brazil, China, Philippines, Russia, Argentina, Mexico, Hungary and Poland. These destinations are gaining popularity because of the improvement in their education system, rapidly increasing workforce, and the development of their overall infrastructure. With the 24/7 availability of high quality and low cost services in these destination, the Global Application Outsourcing market in the Banking sector is expected to grow in the years to come.

One of the main factors driving the market is the need to reduce operational cost and time. If banks adopt application outsourcing, they do not have to invest in resources or worry about handling the limited available resources for the required applications.

One of the main challenges is issues with data security. In application outsourcing transactions, banks need to transfer the responsibility of handling a task or managing a project to a third-party. Consequently, these transactions also require banks to provide the outsourcing vendor with valuable and confidential company information such as details of their customers.

The key vendors dominating this space include Accenture Plc., Computer Sciences Corp., Hewlett-Packard Co., and IBM Corp.

The other vendors mentioned are Capgemini SA., CGI Group Inc., Cognizant Technology Solutions Ltd., Dell Inc., EPAM Systems, HCL Technologies, Hexaware Technologies, iGATE Corp., Infosys Ltd., ITC Infotech India Ltd., L&T Infotech, Luxoft, Mindtree Ltd., Polaris Financial Technology Ltd., Softtek, Syntel Inc., Tata Consultancy Services Ltd., Wipro Ltd., and Unisys Corp.

Click for report details: www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Market Research Reports www.companiesandmarkets.com/Market/Information-Technology/Market ..

Browse all Information Technology Company Profile Reports www.companiesandmarkets.com/Market/Information-Technology/Compan ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com