Emerging technologies like blockchain, artificial intelligence, big data, augmented and virtual reality, and 5G are ready to drive the next wave of disruption for Information Technology and IT-enabled services industry. But the shortage of required digital skills in the current marketplace is creating a war for talent, forcing organizations to compete for the best talent. Moreover, HR’s are faced with a unique challenge of reducing the shelf-life of software engineers, necessitating proper training programs. To drive successful digital transformation, HRs needs advanced HCM tools to attract and retain the right talent and minimize the skill gap.

In the India HCM market by vertical, IT and ITES vertical hold the largest market size during the forecast period. The IT and ITES vertical is very active in terms of adopting HCM software. The software helps streamline business processes across locations to a centralized process. Moreover, the adopting companies make sure that their employees undergo training to understand the current technical environment. Therefore, advanced technologies and various software and solutions are helping this vertical prioritize its actions and manage its workforce smoothly.

Today, almost one-sixth of the global IT-BPM sector is outsourced, with the sector expanding by more than five times in the past decade. In 2015, the sector generated US$166 billion in revenue globally and is forecast to increase to US$250 billion by 2022. Of the global IT-BPM sourcing market for 2015, IT Services global sourcing accounted for nearly 60%, while 40% came from BPM global sourcing services.