Technavio has been monitoring the IT and BPO services market in India and it is poised to grow by USD 83.6 Bn during 2020-2024, progressing at a CAGR of almost 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Cognizant Technology Solutions Corp., HCL Technologies Ltd., International Business Machines Corp., Infosys Ltd., Serco Group Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Wipro Ltd., and WNS Holdings Ltd. are some of the major market participants. Although the need to focus on core competencies and improve efficiency will offer immense growth opportunities, lack of effective communication between client and vendor will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Need to focus on core competencies and improve efficiency has been instrumental in driving the growth of the market. However, lack of effective communication between client and vendor might hamper market growth. Business Process Outsourcing (BPO) Market is valued at USD 187.91 Billion in 2018 and expected to reach USD 314.81 Billion by 2025 with a CAGR of 7.65% over the forecast period. Rise in corporate profit, availability of a low-cost talent pool in emerging economies and technological transformations in the retail and e-commerce verticals are some factors driving the growth of the market.