IT Services Market is estimated to reach $1,752 Billion by 2024; growing at a CAGR of 5.4% from 2016 to 2024. The term Information technology (IT) refers to the computers used to study, store, retrieve, spread and manipulate information. The IT service is an operational model where the IT service to a business is been delivered by the information technology (IT) service provider. IT service are integrated with various industries such as software, e-commerce, computer hardware, internet, electronics, and semiconductors. The IT service provider might be internal IT organization or external IT organization.
A rising start-up community and growing technology are the primary factors boosting in the market growth of IT services. Growing emphasis on developing an IT efficient infrastructure and implementation of IT services such as consulting services and system integration services by organizations is also supplementing the growth of the market. However, high competition is a major challenge for the market players. However, the IT services market will place a great importance on the needs and outcome demands by the business to improve employee productivity, and profitability in the coming years.
The IT services market is segmented by service type, consulting type, industry vertical, infrastructure, and geography. By service type, the market is classified into application development, application modernization, system integration, performance engineering, and others. By consulting type, the market is segmented as IT consulting and network consulting. By industry vertical the market is segmented as financial, government, computer services, manufacturing, telecom, transportation, and others. By infrastructure, the segmentations considered in the report are desktop support infrastructure, data center infrastructure, mainframe support infrastructure, help desk infrastructure, and others.
Based on geography, IT Service Market is segmented into North America, Europe, Asia-Pacific, Rest of the World (RoW). North America is further bifurcated in U.S., Canada and Mexico whereas Europe consist of UK, Germany, and others. Asia-Pacific is segmented into India, China, and others while RoW is bifurcated into South America, Middle East and Africa.
The key market players include Hewlett Packard Enterprise, International Business Machine Corporation, Infosys Limited, Accenture PLC, Capgemini SE, Cisco Systems, Cognizant Technology Solutions Corporation, HCL Technologies Limited, Oracle Corporation, and Tata Consultancy Services, among others.
The key takeaways from the report
- The report will provide detailed analysis of IT Services Market with respect to major segments such as service type, industry vertical, consulting type, and infrastructure
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of IT Services Market has been included in the report
- Profile of the key players in the IT Services Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of IT Services Market
Service Type Segments
- Application Development
- Application Modernization
- System Integration
- Performance Engineering
Consulting type Segments
- IT Consulting
- Network Consulting
Industry Vertical Segments
- Computer services
- Desktop Support Infrastructure
- Data Center Infrastructure
- Mainframe Support Infrastructure
- Help Desk Infrastructure
- North America
- Asia Pacific
- ·South America
- ·Middle East