The United States IT Spending market attained a value of USD 1.25 trillion in 2022. the market is further expected to grow at a CAGR of 3.83% in the forecast period of 2023-2028.
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In July 2022, a leading retail store company, Macy’s, announced spending cuts to be applied this year. They have informed their tech partners of 10-15% cut in their IT budget.
In August 2021, Microsoft India announced their collaboration with Invest India. Invest India is a program to help tech start-ups in India by the Government of India’s national investment promotion and facilitation agency.
With this collaboration in action, the business resources and technology of Microsoft will be utilised to help the start-ups. This will increase the spending on IT services and indirectly propel the United States IT spending market.
IT services are the applications and data services utilised by companies to enable management and optimisation of data and communication throughout the company. IT services support the flow of work in companies with setup, management, and troubleshooting of different services like network, software, cloud computing, and many more.
United States has initiated many collaborative ventures with emerging nations like India. Established tech companies are collaborating with emerging countries to expand their market.
The companies will supply their technology and services and doing so will boost the growth of the IT spending market in the regional and the global market.
The increasing implementation of artificial intelligence and machine learning in companies to manage and analyse the data. This will help the companies to outsource data based on their interest.
Companies can also setup their own systems to help various tasks. This can help in propelling the IT spending market development.
The government of United States, acknowledging the importance of Federal IT, is investing a significant amount to improve the cyber security. The government will also emphasize on training new and current workforce to address the skill gap among the existing staff.
This increased attention to IT systems by the federal government will give the existing market further opportunities to grow.
Organisations are improving their network with the onset of 5G technologies. The 5G provides high rates for data transfer while providing the security like wired transfers.
This can provide new opportunities for the market growth as organisations will invest in data centres and to upgrade their technology.
Cloud services are online services and like any other online service setup, it can face server problems and downtime. These issues can obstruct company operations, which can lead to significant loss in business.
This issue can be solved by implementing a skilled team to maintain the services. However, every company cannot do the same and this can hinder the growth of the United States IT spending market.
The difference between the skills required by company and what skills the employee possess can differ. Low percentage of people can tackle high skill tasks. This lack of expertise has held back the development of highly technical sectors.
Though security measures are taken according to industry standards, storing data in a virtual storage space can lead to data theft or data loss. Service providers hold the major control over the management giving the customer minimal control, which can be a major liability.
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Based on type, the market can be segmented into data centre systems, enterprise software, enterprise IT services, devices, and communications services.
The data centre systems, enterprise software, enterprise IT services, devices, and communication services can further be divided by company size. The different company sizes include less than 300 employees, 300-2000 employees, more than 2000 employees.
The enterprise software can be further divided by type. The types of enterprise software in the United States IT spending market include business intelligence software, content management software, customer relationship management software, enterprise resource planning software, and supply chain management software, amung others.
The enterprise IT services include customized software and app development, and services including IT consulting, among others.
Based on company size, the market segments include less than 300 employees, 300-2000 employees, more than 2000 employees.
The extensive EMR report provides a detailed assessment of the United States IT spending market based on a SWOT analysis.
Based on type, the United States IT spending market segments include data centre systems, enterprise software, enterprise IT services, devices, and communications services.
Data Centre Systems or data centres are physical facilities comprised of a building or a section of a building used to keep computer systems and storage systems, and other components.
Spendings on data centres are continuously growing as cloud service increases in utilisation in the IT market, and as the market grows, the need of IT services will rise to perform tasks faster. This will increase the share of the United States IT spending market in the global market.
The size of the data centre can be categorised by company size of less than 300 employees, 300-2000 employees, and more than 2000 employees.
Enterprise Software is a computer application that helps big companies in various operations such as data analysis, sales and marketing, and customer care, among others.
They are utilised in different types of organisations, including schools, businesses, and government among others. The softwares include ERP, HRMIS, accounting, CRM, desktop applications with enterprise license, OS with enterprise license, among others.
These softwares can be further divided into managed and locally hosted, and enterprise IT services. The managed and locally hosted softwares are installed and managed by the user, giving them full control over the data. With the data security, its monthly cost is also very low.
Enterprise IT services are information technology services provided to all businesses for assistance in completing various tasks. These services help business increase efficiency and return-on-investment (ROI).
These services include customized software and app development, and services Including IT consulting, among others.
Devices in the IT market include PCs, Tablets, Data centre systems, and printers, among others. The United States is a leading region in technology.
As companies expand to other regions, they would need more devices to support the work, which will further grow the United States IT spending.
Communication Services include services and applications that help companies in inter- organisation communication. The types of communication services include voice, data, and video, among others.
This is crucial to maintain proper workflow and communication with clients and between firms. The small and medium sized utilise these services to communicate with clients and manage workflow.
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|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and
|Breakup by Types||
|Breakup by Region||
*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.
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
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 United States IT Spending Market Analysis
8.1 Key Industry Highlights
8.2 United States IT Spending Historical Market (2018-2022)
8.3 United States IT Spending Market Forecast (2023-2028)
8.4 United States IT Spending Market by Types
8.4.1 Data Centre Systems
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Breakup by Company Size
18.104.22.168.1 Total Spending by Company Having Less Than 300 Employees
22.214.171.124.2 Total Spending by Company Having 300-2000 Employees
126.96.36.199.3 Total Spending by Company Having More Than 2000 Employees
8.4.2 Enterprise Software
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Breakup by Type
18.104.22.168.1 Business Intelligence Software
22.214.171.124.2 Content Management Software
126.96.36.199.3 Customer Relationship Management Software
188.8.131.52.4 Enterprise Resource Planning Software
184.108.40.206.5 Supply Chain Management Software
220.127.116.11 Breakup by Company Size
18.104.22.168.1 Total Spending by Company Having Less Than 300 Employees
22.214.171.124.2 Total Spending by Company Having 300-2000 Employees
126.96.36.199.3 Total Spending by Company Having More Than 2000 Employees
8.4.3 Enterprise IT Services
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Breakup by Type
18.104.22.168.1 Customized Software and App development
22.214.171.124.1 Services Including IT consulting
126.96.36.199 Breakup by Company Size
188.8.131.52.1 Total Spending by Company Having Less Than 300 Employees
184.108.40.206.2 Total Spending by Company Having 300-2000 Employees
220.127.116.11.3 Total Spending by Company Having More Than 2000 Employees
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Breakup by Company Size
188.8.131.52.1 Total Spending by Company Having Less Than 300 Employees
184.108.40.206.2 Total Spending by Company Having 300-2000 Employees
220.127.116.11.3 Total Spending by Company Having More Than 2000 Employees
8.4.5 Communications Services
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Breakup by Company Size
188.8.131.52.1 Total Spending by Company Having Less Than 300 Employees
184.108.40.206.2 Total Spending by Company Having 300-2000 Employees
220.127.116.11.3 Total Spending by Company Having More Than 2000 Employees
8.6 United States IT Spending Market by Region
8.6.2 Mid West
9 Regional Analysis
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Mid West
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Key Indicators for Demand
10.4 Key Indicators for Expenditure
List of Key Figures and Tables
1. United States IT Spending Market: Key Industry Highlights, 2018 and 2028
2. United States IT Spending Historical Market: Breakup by Type (USD Billion), 2018-2022
3. United States IT Spending Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. United States IT Spending Historical Market: Breakup by Region (USD Billion), 2018-2022
5. United States IT Spending Market Forecast: Breakup by Region (USD Billion), 2023-2028
In 2022, the United States IT Spending market attained a value of USD 1.25 trillion.
Rapid technological development, expanding companies, and changing business model are the major industry drivers.
Collaborating with companies of emerging nations and upgrading current technology to adapt with the changing market are the currently followed trends in the market.
Data centre systems, enterprise software, enterprise IT services, devices, and communications services are the types in the market.
The company sizes in the market include less than 300 employees, 300-2000 employees, and more than 2000 employees.
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