Market Insights report
In the global IT industry, the IT Services market is a strong market in terms of revenue, where the biggest two players are IBM and Accenture. With the development of digital transformation and automation, IT Services have become a more important part of the business in recent years and are expected to further continue this trend in the coming years.
This report gives insights into the IT Services market and includes a wide range of statistics: the overall market development, a forecast until 2029, and more are included for the global IT Services market as well as for the three main markets IT Consulting & Implementation, Business Process Outsourcing, IT Outsourcing. In total, the worldwide IT Services revenue, which amounted to US$1,297.68 billion in 2023 and is expected to reach approximately US$1,879.05 billion in 2029.
What's included?
The IT services market comprises services used by organizations to create, manage, and deliver information, next to assisting with other business functions. With this report, we provide a comprehensive overview of the state of the IT Services market today as well as a forecast until 2029 with detailed information on the three main markets IT Outsourcing, Business Process Outsourcing, IT Consulting & Implementation. We focus exclusively on the professional business environment.
Overall, the revenue of the global IT Services market is US$1,297.68 billion in 2023 and is expected to reach approximately US$1,879.05 billion in 2029. With about US$485 billion in 2023, IT Outsourcing represents the largest market, comprising approximately 37% of worldwide revenues. Globally, the highest revenue in the IT Services market in 2023 was generated in the United States with US$480.6 billion. The second place is the United Kingdom with a revenue of US$93.6 billion, followed by Japan with about US$89.5 billion. Key players presented in this report are IBM, Cognizant, Hewlett Packard Enterprise, and Tata Consultancy Services.
Besides all relevant market figures such as total revenues for the years from 2016 to 2029 and market indicators, we furthermore give detailed insights into key players. Furthermore, the topics of cloud-based solutions, adoption of generative artificial intelligence/machine learning, and automation, as well as internet of things will be discussed in the trends chapter.
Market Insight
The IT Services Market
Overview
We provide information on industries, companies, consumers, trends, countries, and politics, covering the latest and most important issues in a condensed format.
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