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IT Services Market

Global IT Services Market Size, Share, Analysis, Forecast: By Service Type: Professional Services, Managed Services; By Deployment Mode: On-Premises, Cloud; By Organisation Size: Small and Medium Enterprises, Large Enterprises; By Application; By Industry Vertical; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global IT Services Market Outlook

The global IT services market size was approximately USD 1.16 trillion in 2023. The market is assessed to grow at a CAGR of 7.6% between 2024 and 2032, reaching a value of USD 2.25 trillion by 2032.

 

Key Trends in the Market

Information technology (IT) services is the use of business and technical competence to support companies in creating, managing, and improving business processes and access to information. A highly skilled and trained workforce is employed by an organisation to help it in managing large quantities of data effectively, making data driven decisions, creating outcome-oriented marketing strategies, and utilising latest technologies. It also helps consumers in reaching businesses through various channels, which boosts product demand and overall growth.

 

  • The expansion of e-commerce has fuelled the global IT services market growth. Technologies like artificial intelligence (AI) are utilised by marketing experts in generating questionnaires and analysing data. It also helps them in driving sales by providing tailored product recommendations to consumers based on their search history and location data.
  • The threat of malicious spying and hacking is prompting companies to integrate advanced IT services into their cybersecurity strategies. This includes protecting their networks from unauthorised users, monitoring internet traffic for malware, securing devices from external attacks, and protecting information stored on cloud. This is contributing to the global IT services market demand.
  • The digitalisation of various platforms for e-governance is one of the key IT services market trends. This enables governments of both developed and developing nations to provide citizen centric services to people and boost mutual trust between them.

 

Market Segmentation

Based on service type, the market is segmented into professional services and managed services. On the basis of deployment mode, the market can be divided into on-premises and cloud. By organisation size, the market is segmented into small and medium enterprises, and large enterprises.  The global IT services market segmentation, based on application, includes systems and network management, data management, application management, and security and compliance management, among others.

 

By industry vertical, the market is categorised into BFSI, consumer goods and retail, healthcare, government, and IT and telecom, among others. The major regional markets for IT services include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IT services market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • IBM Corp.
  • Microsoft Corp.
  • Cisco Systems Inc.
  • HP Inc.
  • Dell Technologies Inc.
  • Fujitsu Ltd.
  • Intel Corp.
  • Toshiba Corp.
  • Verizon Communications Inc.
  • Accenture Plc
  • Tata Consultancy Services Ltd.
  • Others

 

Market Share by Service Type

As per the global IT services market analysis, the demand for professional services is expected to witness a significant growth in the coming years. This is because professional services specialise in troubleshooting problems that cannot be handled by a small in-house team. They also provide consulting services to companies before they make any uninformed purchase decision, thereby saving them from unforeseen losses. For transferring data to cloud, they provide an expert team that can handle complex challenges and ensure scalability and security of services. They also help in the installation and configuration of new hardware and software solutions that can help businesses in running efficiently and smoothly.

 

Market Share by Region

The Asia Pacific accounts for a significant IT services market share due a stable macroeconomic environment, increase in corporate establishments, and strong business confidence. The adoption of digital technologies by various industries for streamlining operations and enhancing efficiency is boosting the demand for IT services in the region. For example, IT services help healthcare professionals in tracking patient data and updating medical status easily which helps in preventing critical emergencies. It also helps the BFSI sector in approving financial transactions with minimal risk of fraud and in sanctioning loans. This helps streamline bank’s internal operations and improve security, enhancing credit availability for households.

 

Competitive Landscape

IBM Corp. is among the world’s leading companies operating in the information technology sector. It was incorporated in 1911 and is headquartered in the state of New York in the United States. It mainly provides hybrid cloud systems, artificial intelligence support, and business services. Its four business segments include Software, Infrastructure, Consulting, and Financing that provide client specific solutions.

 

HP Inc. stands for Hewlett Packard, a company which was founded in 1939 and is headquartered in Texas, United States. It is one of the leading organisations in the world which manufactures personal systems and printing products. It operates through six different business units which include Compute, HPC & AI, Financial Services, Intelligent Edge, Corporate Investments, Storage, and Other.

 

Accenture Plc was incorporated in 2009 and is headquartered in Dublin, Ireland. It is a globally renowned information technology company providing professional services. It has a track record of having served more than 9000 clients across 120 countries and ranks among Fortune’s list of world’s most admired companies. It is engaged in providing application and cloud services, business process outsourcing and consulting services, among others.

 

Other global IT services market players include Microsoft Corp., Cisco Systems Inc., HP Inc., Dell Technologies Inc., Fujitsu Ltd., Intel Corp., Toshiba Corp., Verizon Communications Inc., and Tata Consultancy Services Ltd., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Service Type
  • Deployment Mode
  • Organisation Size
  • Application
  • Industry Vertical
  • Region
Breakup by Service Type
  • Professional Services
  • Managed Services
Breakup by Deployment Mode
  • On-Premises
  • Cloud
Breakup by Organisation Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by Application
  • Systems and Network Management
  • Data Management
  • Application Management
  • Security and Compliance Management
  • Others
Breakup by Industry Vertical
  • BFSI
  • Consumer Goods and Retail
  • Healthcare
  • Government
  • IT and Telecom
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • IBM Corp.
  • Microsoft Corp.
  • Cisco Systems Inc.
  • HP Inc.
  • Dell Technologies Inc.
  • Fujitsu Ltd.
  • Intel Corp.
  • Toshiba Corp.
  • Verizon Communications Inc.
  • Accenture Plc
  • Tata Consultancy Services Ltd.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global IT Services Market Analysis
    8.1    Key Industry Highlights
    8.2    Global IT Services Historical Market (2018-2023) 
    8.3    Global IT Services Market Forecast (2024-2032)
    8.4    Global IT Services Market by Service Type
        8.4.1    Professional Services
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Managed Services
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global IT Services Market by Deployment Mode
        8.5.1    On-Premises
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Cloud
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global IT Services Market by Organisation Size
        8.6.1    Small and Medium Enterprises
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global IT Services Market by Application
        8.7.1    Systems and Network Management
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Data Management
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Application Management
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Security and Compliance Management
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global IT Services Market by Industry Vertical
        8.8.1    BFSI
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Consumer Goods and Retail
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Healthcare
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Government
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    IT and Telecom
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Others
    8.9    Global IT Services Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America IT Services Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe IT Services Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific IT Services Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America IT Services Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa IT Services Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    IBM Corp. 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Microsoft Corp. 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Cisco Systems Inc. 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    HP Inc. 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Dell Technologies Inc. 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Fujitsu Ltd. 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Intel Corp. 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Toshiba Corp. 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Verizon Communications Inc. 
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Accenture Plc 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Tata Consultancy Services Ltd.  
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global IT Services Market: Key Industry Highlights, 2018 and 2032
2.    Global IT Services Historical Market: Breakup by Service Type (USD Trillion), 2018-2023
3.    Global IT Services Market Forecast: Breakup by Service Type (USD Trillion), 2024-2032
4.    Global IT Services Historical Market: Breakup by Deployment Mode (USD Trillion), 2018-2023
5.    Global IT Services Market Forecast: Breakup by Deployment Mode (USD Trillion), 2024-2032
6.    Global IT Services Historical Market: Breakup by Organisation Size (USD Trillion), 2018-2023
7.    Global IT Services Market Forecast: Breakup by Organisation Size (USD Trillion), 2024-2032
8.    Global IT Services Historical Market: Breakup by Application (USD Trillion), 2018-2023
9.    Global IT Services Market Forecast: Breakup by Application (USD Trillion), 2024-2032
10.    Global IT Services Historical Market: Breakup by Industry Vertical (USD Trillion), 2018-2023
11.    Global IT Services Market Forecast: Breakup by Industry Vertical (USD Trillion), 2024-2032
12.    Global IT Services Historical Market: Breakup by Region (USD Trillion), 2018-2023
13.    Global IT Services Market Forecast: Breakup by Region (USD Trillion), 2024-2032
14.    North America IT Services Historical Market: Breakup by Country (USD Trillion), 2018-2023
15.    North America IT Services Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16.    Europe IT Services Historical Market: Breakup by Country (USD Trillion), 2018-2023
17.    Europe IT Services Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18.    Asia Pacific IT Services Historical Market: Breakup by Country (USD Trillion), 2018-2023
19.    Asia Pacific IT Services Market Forecast: Breakup by Country (USD Trillion), 2024-2032
20.    Latin America IT Services Historical Market: Breakup by Country (USD Trillion), 2018-2023
21.    Latin America IT Services Market Forecast: Breakup by Country (USD Trillion), 2024-2032
22.    Middle East and Africa IT Services Historical Market: Breakup by Country (USD Trillion), 2018-2023
23.    Middle East and Africa IT Services Market Forecast: Breakup by Country (USD Trillion), 2024-2032
24.    Global IT Services Market Structure

Key Questions Answered in the Report

What was the global IT services market value in 2023?

In 2023, the market reached an approximate value of USD 1.16 trillion.

What is the growth rate of the global IT services market?

The market is estimated to grow at a CAGR of 7.6 % between 2024 and 2032.

What is the global IT services market forecast for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2.25 trillion by 2032.

What are the major market drivers?

The market is being driven by the growing leaps and bounds in edge computing and streamlining of business operations to enhance customer satisfaction.

What are the key trends of the market?

The key trends aiding the market expansion include the thriving e-commerce industry, rise of e-governance, and increase in concerns surrounding cyberspace.

What are the major regional markets for IT services, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major applications of IT services?

The major applications of IT services include systems and network management, data management, application management, and security and compliance management, among others.

Who are the key market players, according to the global IT services market report?

The major players in the market are IBM Corp., Microsoft Corp., Cisco Systems Inc., HP Inc., Dell Technologies Inc., Fujitsu Ltd., Intel Corp., Toshiba Corp., Verizon Communications Inc., Accenture Plc, and Tata Consultancy Services Ltd., among others.

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Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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