The world has seen significant advancement in terms of electronics manufacturing technology in the last two decades. The rapid advancement in computer manufacturing technology has resulted in the development of servers that are capable of handling significant loads with greater security. Businesses are increasingly adopting IT systems for performing various operations, as it is less time consuming and provides additional flexibility. The growth in globalization has also forced businesses to adopt computing systems to offer their services to clients, both at the enterprise level and consumer level, regardless of political boundaries. Numerous companies in Switzerland are adopting the services of third-party IT service providers for setting up their IT infrastructure, manage networks, provide cybersecurity solutions and services, amongst others. The rising demand for modernized IT infrastructure amongst businesses is a major reason for the growth of the Switzerland IT outsourcing market. In terms of revenue, the Switzerland IT outsourcing market was valued at US$ 4341.3 Mn in 2020 growing at a CAGR of 8.5% over the forecast period (2021 – 2029).
The 105+ Pages Report will include extensive information on the following pointers:
- Switzerland Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments.
- Industry Gross Margin and Profitability Analysis
- Business & Technological Trends
- Covid-19 Impact on Switzerland IT Outsourcing Market
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Analysis
- Switzerland Presence and Growth Strategies
- Mergers and Acquisitions
- Product Launches
- Investments Trends
- R&D Initiatives
- Market Share Analysis, 2020
- Switzerland Presence and Growth Strategies
- Detailed profiles of major market participants operating in the market, encompassing information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
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Increase in Use of Computing Systems amongst Enterprises of All Sizes is a Major Reason for the Revenue Growth in the Switzerland IT Outsourcing Market
There has been a significant rise in the use of computer and laptops for performing business operations in Switzerland. Numerous small and medium companies in Switzerland are also adopting digital infrastructure, despite restraints caused by the shortage in budget, as the return on investment on IT systems is considerably high for these companies. Switzerland is not rich in natural resources, but boasts high proficiency in technologies such as micro technology, precision engineering, and earth sciences, amongst others. These sectors are rapidly adopting digitization, as digital systems enable the end-users to quickly sieve out samples, and use the data for analysis purposes. The growth of investment in employee training amongst the companies is a major boost for the IT outsourcing market participants, as this allows the companies to exploit the growth in IT infrastructure. The use of IT systems for applications such as data analytics, return on investment measurement, performance optimization, amongst others, is on the rise in Switzerland. Cloud computing is also being used by numerous companies in Switzerland, predominantly due to the lower budgetary requirements in using cloud computing services, along with the flexibility for upscale of business operations in cloud computing technology. Secure cloud migration is being increasingly offered by companies such as Accenture, Tata Consultancy Services, Wipro Limited, amongst others. These factors are enforcing the revenue growth in the Switzerland IT outsourcing market.
COVID-19 Pandemic is expected to have a Positive Impact
The COVID-19 pandemic has promoted work from home, and remote working culture globally. Companies are increasingly allowing the employees to work from home to prevent the spread of the Coronavirus. Remote working presents additional growth opportunities for IT outsourcing companies, since businesses are increasingly seeking remote migration services. Cybersecurity plays a crucial role in business operations, as the breach of data, both customer and business data, can have detrimental effects on the company's reputation. Data privacy laws in Switzerland also enforce stringent cybersecurity measures, and businesses are increasingly utilizing the services of third-party cybersecurity companies for setting up and managing the cybersecurity architecture. Cyber policy consultation and implementation is also on the rise in Switzerland as a result of the pandemic. Hence, the pandemic is expected to have a positive impact on the market revenue in the Switzerland IT outsourcing market in the coming years.
Digital Transformation and Modernization Services are expected to Show Fastest Growth during the Forecast Years (2021-2029)
The growth of technologies such as artificial intelligence, blockchain, cloud computing, edge computing, amongst others is being closely monitored by companies in Switzerland. Artificial intelligence, for instance, has the potential to reduce man hours, and increase efficiency in organizations of all sizes, and the companies are increasingly seeking AI-based services for performing business operations. A major application of AI is in data science and analytics, as self-learning computing systems can predict patterns, thereby providing additional insights to companies to understand market trends. Wipro Limited, for instance, is providing AI-based analytics, powered by the company's Holmes AI technology. Businesses functions can be closely analyzed using curated and structured data, thereby enabling organizations to boost their profitability. Modernizations services are expected to show the fastest growth during the forecast years in the Switzerland IT outsourcing market, as companies are quickly implementing latest advancements in the field of technology through the collaboration with IT outsourcing companies. Employee training and consultation services for these technologies are also being provided by the market participants, thereby helping in greater adoption of technology amongst companies.
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The Switzerland IT outsourcing market is competitive and comprises of various companies, which include:-
- Amadeus IT Group SA
- Atos SE
- CGI Inc.
- IBM Corporation
- Infosys Limited
- SPIE ICS
- Tata Consultancy Services Limited.
- Wipro Limited
- Other Market Participants
Switzerland IT Outsourcing Market:
By Service Type
- Managed Services
- Professional Services
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
- Education and Training
- Banking, Financial Services and Insurance
- Healthcare and Pharmaceutical
- IT and Telecommunication
- Media and Entertainment
- Retail and Consumer Goods
- Travel and Hospitality
- Energy and Utilities
- Transportation and Logistics
- Software Development and Testing
- Cloud Migration/Management
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Data Analytics/Business Intelligence
- Digital Transformation/Workplace Modernization (Including Adoption of IoT, Artificial Intelligence, Blockchain, Etc.)
- Network Management
- Unified Communication & Collaboration
- Technical Support/Helpdesk
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