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: Mar 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
The IT Services market in EMEA continues to experience steady growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In the IT Services market in EMEA, customers are increasingly seeking customized and tailored solutions to meet their specific business needs. They are looking for IT service providers that can offer flexible and scalable solutions, as well as provide expertise in emerging technologies such as cloud computing, artificial intelligence, and cybersecurity. Additionally, customers are placing a greater emphasis on data privacy and security, leading to an increased demand for managed security services.
Trends in the market: One of the key trends in the IT Services market in EMEA is the growing adoption of cloud computing. As organizations look to optimize their IT infrastructure and reduce costs, they are turning to cloud-based solutions for their software, storage, and infrastructure needs. This trend is driving the demand for cloud services, including cloud migration, cloud management, and cloud consulting. Another trend in the market is the rise of digital transformation initiatives. Organizations across industries are embracing digital technologies to improve their business processes, enhance customer experience, and gain a competitive edge. This has led to an increased demand for IT services that can support digital transformation, such as application development and integration, data analytics, and IoT solutions.
Local special circumstances: In certain countries within the EMEA region, there are specific circumstances that are influencing the development of the IT Services market. For example, in countries with a strong focus on financial services, there is a high demand for IT services that can support banking and payment systems, risk management, and compliance. In countries with a thriving startup ecosystem, there is a growing need for IT services that can help startups scale their operations and bring innovative products to market.
Underlying macroeconomic factors: The IT Services market in EMEA is also influenced by underlying macroeconomic factors. Economic growth, political stability, and government initiatives to promote digitalization and innovation play a significant role in driving the demand for IT services. Additionally, factors such as workforce demographics, technological infrastructure, and regulatory environment can impact the growth and development of the market in specific countries within the region. In conclusion, the IT Services market in EMEA is experiencing growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Organizations are seeking customized and tailored solutions, with a focus on cloud computing and digital transformation. Local circumstances and macroeconomic factors further shape the market dynamics in specific countries within the region.
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