Definition:
The IT Services market encompasses a wide range of services used by organizations to create, manage, and deliver information, and it includes services that provide assistance with various other business functions. The primary goal of IT services is to ensure that information technology infrastructure, applications, and systems are effectively implemented, operated, and optimized to support an organization's business objectives and requirements. The specific range of services offered may vary depending on the service provider and the client's requirements.
Structure:
IT Services contains four distinct markets that are based on different services:
Additional Information:
The IT Services market comprises revenues, revenue change, average spend per employee, and a list of the key players in the market and their consolidated revenues. Market values represent revenues that are generated by primary vendors either directly or through distribution channels at the manufacturer price level (excluding VAT). Reported market revenues include spending by enterprises (B2B) and governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed. Key players in the market include IBM, Cognizant, Hewlett Packard Enterprise, and TCS.
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NOTES: Data was converted from local currencies using average exchange rates of the respective year.
MOST_RECENT_UPDATE: Apr 2024
SOURCE: Statista Market Insights
NOTES: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
MOST_RECENT_UPDATE: Apr 2024
NOTES: Data was converted from local currencies using average exchange rates of the respective year.
MOST_RECENT_UPDATE: Apr 2024
SOURCE: Statista Market Insights
MOST_RECENT_UPDATE: Dec 2024
SOURCE: Statista Market Insights
The demand for IT services in Asia has been growing steadily in recent years, driven by several factors such as the increasing adoption of digital technologies, rising demand for cloud-based services, and the need for businesses to stay competitive in the global market.
Customer preferences: Customers in Asia are increasingly looking for IT services that can help them improve their operational efficiency, reduce costs, and enhance their customer experience. Cloud-based services are becoming increasingly popular, as they offer greater flexibility, scalability, and cost-effectiveness compared to traditional on-premise solutions. Additionally, customers are looking for IT services that can help them leverage emerging technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) to gain a competitive edge.
Trends in the market: One of the key trends in the IT services market in Asia is the increasing adoption of digital technologies by businesses across various industries. This has led to a growing demand for IT services that can help companies digitize their operations, improve their customer experience, and drive innovation. Another trend is the growing popularity of managed services, as more companies are looking to outsource their IT operations to third-party providers to reduce costs and improve efficiency. Additionally, there is a growing demand for cybersecurity services, as businesses look to protect themselves against the increasing threat of cyber attacks.
Local special circumstances: Asia is a diverse region with unique market conditions and cultural factors that can impact the IT services market in different ways. For example, in countries like India and the Philippines, there is a large pool of highly skilled IT professionals, making these countries attractive destinations for outsourcing IT services. On the other hand, in countries like China and Japan, there is a strong emphasis on innovation and technological advancement, leading to a growing demand for IT services that can help companies stay at the forefront of emerging technologies.
Underlying macroeconomic factors: The IT services market in Asia is also influenced by broader macroeconomic factors such as GDP growth, government policies, and geopolitical developments. For example, the ongoing trade tensions between the US and China have created uncertainty in the market, leading to a slowdown in IT investments in some countries. On the other hand, initiatives such as India's Digital India campaign and China's Made in China 2025 plan have created significant opportunities for IT service providers in these countries. Additionally, the growing middle class in many Asian countries is driving demand for digital services such as e-commerce, mobile payments, and online entertainment, creating new opportunities for IT service providers.
NOTES: Data was converted from local currencies using average exchange rates of the respective year.
MOST_RECENT_UPDATE: Apr 2024
SOURCES: Statista Market Insights, Financial Statements of Key Players, National statistical offices
Data coverage:
The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.NOTES: Based on data from IMF, World Bank, UN and Eurostat
MOST_RECENT_UPDATE: Jan 2025
SOURCE: Statista Market Insights