It Services Market
IT Services Market Forecasts to 2030 - Global Analysis By Service Type (Managed Services, Consulting, System Integration, Application Services, Outsourcing Services and Other Service Types), Deployment Type, Distribution Channel, Technology, End User and By Geography
According to Stratistics MRC, the Global IT Services Market is accounted for $1.4 trillion in 2024 and is expected to reach $2.9 trillion by 2030 growing at a CAGR of 11.7% during the forecast period. IT Services is the range of activities and solutions provided by technology professionals to support and manage information technology systems and infrastructure. This includes services such as software development, system integration, network management, data security, and technical support. IT Services aim to optimize technology use, improve efficiency, and ensure the smooth operation of IT systems for businesses and organizations. These services are essential for maintaining technological performance and addressing technical issues that arise in the course of business operations.
According to Ericsson, by the end of 2029, global 5G subscriptions are projected to surpass 5.3 billion, representing 58% of all mobile subscriptions. 5G is set to take the lead as the primary mobile access technology by 2028. Notably, in Q4 2023 alone, 5G subscriptions surged by 154 million, reaching a total of 1.57 billion.
Market Dynamics:
Driver:
Cloud computing adoption
Cloud computing adoption significantly impacts the market by driving demand for scalable, flexible, and cost-effective solutions. Businesses increasingly move to cloud-based infrastructures to benefit from reduced capital expenditure, enhanced accessibility, and improved collaboration. It also facilitates rapid deployment of new applications and services, fostering innovation and efficiency within organizations while expanding opportunities for IT service providers.
Restraint:
Data privacy and security regulations
Data privacy and security regulations can have several negative effects on the market. Compliance with stringent regulations often incurs high costs for businesses, including investments and legal consultations. These regulations can complicate service delivery and increase operational complexity, leading to slower deployment of IT solutions. Additionally, stringent data handling requirements may limit the flexibility and create barriers for service providers, impacting their ability to offer competitive and innovative solutions.
Opportunity:
IT infrastructure management
IT infrastructure management plays a crucial role in the market by ensuring the efficient operation and optimization of technology systems. Effective infrastructure management helps organizations minimize downtime, enhance scalability, and reduce costs through proactive monitoring and maintenance. As businesses increasingly rely on complex IT environments, the demand for comprehensive infrastructure management services grows, driving advancements and innovations in the market.
Threat:
Rapid technological changes
Rapid technological changes can negatively impact the market by causing frequent obsolescence of existing systems and services. This accelerates the need for constant updates and adaptations, increasing costs for both providers and clients. The fast pace of innovation can also lead to integration challenges, as new technologies may not seamlessly fit with legacy systems. Additionally, it puts pressure on IT service providers to continually upskill their workforce, potentially leading to skill shortages and increased operational complexity.
Covid-19 Impact:
The COVID-19 pandemic has profoundly impacted the market by accelerating the shift to remote work and digital transformation. This surge in remote work has increased demand for IT services related to cloud computing, cybersecurity, and virtual collaboration tools. Conversely, the pandemic disrupted global supply chains and strained IT resources, causing delays and increased costs. Overall, while COVID-19 has driven growth in certain IT service areas, it has also introduced challenges in service delivery and operational stability.
The artificial intelligence segment is expected to be the largest during the forecast period
The artificial intelligence is expected to be the largest during the forecast period. AI-driven solutions improve data analysis and bolster cybersecurity through predictive analytics and threat detection. By integrating AI, it providers can offer advanced tools for managing complex IT environments and optimizing resource allocation. This technology also enables personalized customer support and more efficient problem resolution, driving innovation and competitive advantage in the sector.
The manufacturing segment is expected to have the highest CAGR during the forecast period
The manufacturing segment is expected to have the highest CAGR during the forecast period. This includes developing software applications, building and maintaining IT infrastructure, and providing managed services. The manufacturing process in IT services often focuses on customization, quality assurance, and scalability to meet diverse client needs. As businesses increasingly rely on technology, efficient manufacturing ensures reliable, secure, and innovative solutions that drive operational success.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. Major factors include the proliferation of cloud computing, cybersecurity needs, and the increasing adoption of AI and data analytics. The region’s businesses invest significantly in IT infrastructure to enhance efficiency, innovation, and competitiveness. Additionally, a strong presence of leading IT service providers and technological advancements contribute to the market's growth and development in the region.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. Rising investments in cloud computing, artificial intelligence, and cybersecurity are driving demand for IT services. The region's large and diverse market, coupled with the growing emphasis on innovation and modernization, presents significant opportunities for IT service providers. Additionally, emerging economies in the region are accelerating their IT infrastructure development, further fueling market expansion.
Key players in the market
Some of the key players in IT Services market include Accenture, IBM Corporation, Tata Consultancy Services (TCS), Infosys Limited, Cognizant Technology Solutions, Hewlett Packard Enterprise (HPE), Capgemini SE, Wipro Limited, DXC Technology, Oracle Corporation, SAP SE, Fujitsu Limited, Tech Mahindra Limited, Huawei Technologies Co., Ltd., Dell Technologies, HCL Technologies, Skyhigh Security, Microsoft Corporation, Amazon Web Services (AWS) and Google Cloud.
Key Developments:
In May 2024, Tata Consultancy Services (TCS) and CrowdStrike signed a strategic partnership to power TCS’ extended managed detection and response (XMDR) services with the AI-native CrowdStrike Falcon XDR platform. This partnership enables TCS to leverage the comprehensive security features of the Falcon platform.
In February 2024, Skyhigh Security launched the addition of managed & professional IT services to its Altitude Partner Program. These professional services will help companies complete their product development and resell SkyHigh Security solutions.
Service Types Covered:
• Managed Services
• Consulting
• System Integration
• Application Services
• Outsourcing Services
• Other Service Types
Deployment Types Covered:
• On-Premises
• Cloud-Based
• Hybrid
Distribution Channels Covered:
• Direct Sales
• System Integrators
• Managed Service Providers (MSPs)
• Value-Added Resellers (VARs)
Technologies Covered:
• Artificial Intelligence
• Machine Learning
• Big Data and Analytics
• Internet of Things (IoT)
• Blockchain
• Cybersecurity
• Other Technologies
End Users Covered:
• Healthcare
• Retail
• Financial Services
• Manufacturing
• Telecommunications
• Government
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global IT Services Market, By Service Type
5.1 Introduction
5.2 Managed Services
5.3 Consulting
5.4 System Integration
5.5 Application Services
5.6 Outsourcing Services
5.7 Other Service Types
6 Global IT Services Market, By Deployment Type
6.1 Introduction
6.2 On-Premises
6.3 Cloud-Based
6.4 Hybrid
7 Global IT Services Market, By Distribution Channel
7.1 Introduction
7.2 Direct Sales
7.3 System Integrators
7.4 Managed Service Providers (MSPs)
7.5 Value-Added Resellers (VARs)
8 Global IT Services Market, By Technology
8.1 Introduction
8.2 Artificial Intelligence
8.3 Machine Learning
8.4 Big Data and Analytics
8.5 Internet of Things (IoT)
8.6 Blockchain
8.7 Cybersecurity
8.8 Other Technologies
9 Global IT Services Market, By End User
9.1 Introduction
9.2 Healthcare
9.3 Retail
9.4 Financial Services
9.5 Manufacturing
9.6 Telecommunications
9.7 Government
9.8 Other End Users
10 Global IT Services Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Accenture
12.2 IBM Corporation
12.3 Tata Consultancy Services (TCS)
12.4 Infosys Limited
12.5 Cognizant Technology Solutions
12.6 Hewlett Packard Enterprise (HPE)
12.7 Capgemini SE
12.8 Wipro Limited
12.9 DXC Technology
12.10 Oracle Corporation
12.11 SAP SE
12.12 Fujitsu Limited
12.13 Tech Mahindra Limited
12.14 Huawei Technologies Co., Ltd.
12.15 Dell Technologies
12.16 HCL Technologies
12.17 Skyhigh Security
12.18 Microsoft Corporation
12.19 Amazon Web Services (AWS)
12.20 Google Cloud
List of Tables
1 Global IT Services Market Outlook, By Region (2022-2030) ($MN)
2 Global IT Services Market Outlook, By Service Type (2022-2030) ($MN)
3 Global IT Services Market Outlook, By Managed Services (2022-2030) ($MN)
4 Global IT Services Market Outlook, By Consulting (2022-2030) ($MN)
5 Global IT Services Market Outlook, By System Integration (2022-2030) ($MN)
6 Global IT Services Market Outlook, By Application Services (2022-2030) ($MN)
7 Global IT Services Market Outlook, By Outsourcing Services (2022-2030) ($MN)
8 Global IT Services Market Outlook, By Other Service Types (2022-2030) ($MN)
9 Global IT Services Market Outlook, By Deployment Type (2022-2030) ($MN)
10 Global IT Services Market Outlook, By On-Premises (2022-2030) ($MN)
11 Global IT Services Market Outlook, By Cloud-Based (2022-2030) ($MN)
12 Global IT Services Market Outlook, By Hybrid (2022-2030) ($MN)
13 Global IT Services Market Outlook, By Distribution Channel (2022-2030) ($MN)
14 Global IT Services Market Outlook, By Direct Sales (2022-2030) ($MN)
15 Global IT Services Market Outlook, By System Integrators (2022-2030) ($MN)
16 Global IT Services Market Outlook, By Managed Service Providers (MSPs) (2022-2030) ($MN)
17 Global IT Services Market Outlook, By Value-Added Resellers (VARs) (2022-2030) ($MN)
18 Global IT Services Market Outlook, By Technology (2022-2030) ($MN)
19 Global IT Services Market Outlook, By Artificial Intelligence (2022-2030) ($MN)
20 Global IT Services Market Outlook, By Machine Learning (2022-2030) ($MN)
21 Global IT Services Market Outlook, By Big Data and Analytics (2022-2030) ($MN)
22 Global IT Services Market Outlook, By Internet of Things (IoT) (2022-2030) ($MN)
23 Global IT Services Market Outlook, By Blockchain (2022-2030) ($MN)
24 Global IT Services Market Outlook, By Cybersecurity (2022-2030) ($MN)
25 Global IT Services Market Outlook, By Other Technologies (2022-2030) ($MN)
26 Global IT Services Market Outlook, By End User (2022-2030) ($MN)
27 Global IT Services Market Outlook, By Healthcare (2022-2030) ($MN)
28 Global IT Services Market Outlook, By Retail (2022-2030) ($MN)
29 Global IT Services Market Outlook, By Financial Services (2022-2030) ($MN)
30 Global IT Services Market Outlook, By Manufacturing (2022-2030) ($MN)
31 Global IT Services Market Outlook, By Telecommunications (2022-2030) ($MN)
32 Global IT Services Market Outlook, By Government (2022-2030) ($MN)
33 Global IT Services Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
