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 Southern Asia has been on a steady rise in recent years, driven by various factors such as increasing digitalization, expanding e-commerce, and the growing adoption of cloud computing.
Customer preferences: Customers in Southern Asia are increasingly looking for customized IT solutions that are tailored to their specific needs. This trend is driven by the growing awareness of the benefits of digitalization and the need for businesses to stay competitive in a rapidly changing market. Additionally, customers are also looking for IT services that are cost-effective and provide high-quality solutions.
Trends in the market: One of the major trends in the IT services market in Southern Asia is the increasing adoption of cloud computing. This is driven by the need for businesses to store and manage large amounts of data securely and efficiently. Another trend is the growing popularity of IT outsourcing as a cost-effective solution for businesses looking to reduce their IT costs. Additionally, there is a growing demand for mobile app development services, as businesses seek to tap into the growing mobile market in the region.
Local special circumstances: One of the unique features of the IT services market in Southern Asia is the presence of a large number of small and medium-sized enterprises (SMEs). These businesses often have limited IT budgets and require cost-effective solutions that can help them stay competitive. Additionally, the region has a large pool of skilled IT professionals who are able to provide high-quality IT services at competitive rates.
Underlying macroeconomic factors: The IT services market in Southern Asia is also influenced by various macroeconomic factors such as economic growth, government policies, and infrastructure development. The region has experienced rapid economic growth in recent years, which has led to increased investment in IT infrastructure and technology. Additionally, many governments in the region have implemented policies aimed at promoting the growth of the IT sector, which has further boosted demand for IT services. Finally, the region's growing middle class and expanding e-commerce market are also contributing to the growth of the IT services market, as businesses seek to tap into these lucrative markets.
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