The tech industry is growing amid significant advancements, widespread digitization across industries, and increasing cloud migrations. So, quality tech stocks Gartner Inc. (IT – Get Rating), Cognizant Technology Solutions Corp. (CTSH – Get Rating), and Hackett Group Inc. (HCKT – Get Rating) might be solid additions to one’s portfolio for healthy returns.
Many companies are now choosing applications hosted in the cloud for their day-to-day operations. The demand for cloud computing services is expected to drive the demand for IT services.
The information technology market is expected to reach $119.96 trillion in 2027, growing at a CAGR of 7.9%.
Moreover, IT outsourcing has become more than a simple cost-reduction technique with cloud migrations and service options. Therefore, this new form is driven by organizational motivations regarding business growth, customer experience, and competitive disruption.
The United States IT Services market is estimated to reach $306.10 billion by 2028, growing at a CAGR of 7.1%.
According to the most recent Gartner prediction, worldwide IT spending would hit $4.7 trillion in 2023, a 4.3% increase from 2022. Increased investments in cloud computing, artificial intelligence, and digital transformation programs across businesses are primarily driving this expansion.
With these favorable trends in mind, let’s delve into the fundamentals of the three best Outsourcing – Tech Services stocks, beginning with…
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