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
Brazil, the largest country in South America, has a rapidly growing IT Services market.
Customer preferences: Brazilian customers are increasingly looking for IT services that can help them improve their business processes and stay competitive in the market. This has led to a growing demand for cloud computing, big data analytics, and cybersecurity services. Brazilian companies are also looking for IT services that can help them with digital transformation, such as mobile app development and e-commerce solutions.
Trends in the market: The IT services market in Brazil is experiencing significant growth due to the increasing demand for digital transformation services. The Brazilian government has also been investing heavily in technology infrastructure, which has helped to boost the IT services market. Another trend in the market is the growing popularity of outsourcing IT services to third-party providers, which allows companies to reduce costs and focus on their core business.
Local special circumstances: Brazil is home to a large number of IT companies, including both domestic and international players. The country has a well-educated and highly skilled workforce, which has helped to fuel the growth of the IT services market. However, Brazil also faces challenges such as high taxes and a complex regulatory environment, which can make it difficult for companies to do business.
Underlying macroeconomic factors: The Brazilian economy has been experiencing a period of recovery after a recession in recent years. This has led to increased investment in technology and a growing demand for IT services. The Brazilian government has also been implementing policies to encourage innovation and entrepreneurship, which has helped to support the growth of the IT services market. Additionally, Brazil's large population and growing middle class have created a significant market for technology products and services.
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