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: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
The demand for IT services in Eastern Asia has been on the rise in recent years, driven by various factors such as the increasing adoption of digital technologies, growing demand for cloud-based services, and the need for efficient and cost-effective IT solutions.
Customer preferences: Customers in Eastern Asia are increasingly looking for IT service providers that can offer a wide range of services, including cloud computing, cybersecurity, data analytics, and artificial intelligence. They also prefer providers that can offer customized solutions that meet their specific business needs and requirements. Additionally, customers in this region are highly sensitive to price and value for money, and are willing to switch providers if they find a better deal elsewhere.
Trends in the market: China is the largest IT services market in Eastern Asia, accounting for a significant share of the region's total market. The country's rapidly growing economy, large population, and increasing adoption of digital technologies are driving the demand for IT services in the country. In addition, Japan and South Korea are also significant markets for IT services in the region, with a strong focus on cloud computing and cybersecurity.
Local special circumstances: One of the unique characteristics of the IT services market in Eastern Asia is the dominance of local providers. Local companies have a better understanding of the local market, culture, and language, and are able to offer customized solutions that meet the specific needs of customers in the region. In addition, many local providers have strong government support, which gives them an advantage over foreign competitors.
Underlying macroeconomic factors: The economic growth in Eastern Asia has been a major driver of the IT services market in the region. The region's growing middle class and increasing urbanization have led to a greater demand for digital technologies and IT services. In addition, the region's favorable business environment, supportive government policies, and high levels of investment in research and development have also contributed to the growth of the IT services market in Eastern Asia.
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: Sep 2024
Source: Statista Market Insights