Ahmed Sherif
Research expert covering IT services and gaming hardware
IT services - Statistics & Facts
Unseen yet omnipresent, Information Technology (IT) services are the invisible gears driving modern organizations. These services support business operations and digital transformation through outsourcing, managed services, security, data management, and cloud computing. By leveraging these services, companies enhance efficiency, reduce costs, and gain competitive advantages in a digital marketplace. Prominent cloud providers worldwide include Amazon Web Services, Microsoft Azure, Google Cloud, and Alibaba Cloud. In the managed services sector, Oracle, Accenture, and IBM are among the largest providers globally.
Overall, the IT services market is poised for robust growth in the coming years. As businesses continue to prioritize digital transformation and seek to leverage AI, advanced analytics, and IoT capabilities, IT service providers are well-positioned to capitalize on these trends, ultimately driving growth in the sector.
North Americas market the largest for IT services
IT services from part of the broader IT market, encompassing services, devices, enterprise software, and data center systems. In 2019, global IT services spending surpassed one trillion U.S. dollars for the first time. By 2024, IT spending had increased to over 1.6 trillion U.S. dollars globally. In terms of regional IT services spending, the EMEA region was estimated to account for over 57 percent of the global IT services revenue in 2024. By contrast, IT services revenue in Latin America accounted for a six percent share of global IT services revenue. In 2023, the United States solely accounted for over a third of the global information and communication technology market.Cloud computing at the forefront
Cloud computing, which provides scalable and flexible infrastructure, is a strongly growing segment, with global end-user spending on public cloud spending expected to reach over 675 billion U.S. dollars by 2024. Accordingly, enterprise spending on cloud infrastructure services amounted to 270 billion U.S. dollars in 2023, registering an increase of around 20 percent compared to the previous year. The global managed services market is also off to a more than promising development in the upcoming years, with the managed services market size expected to exceed 530 billion U.S. dollars in 2028. Simply put, managed services refer to the outsourcing of computing and IT-related processes, such as cloud computing, data management, or managed IT security.Artificial intelligence (AI) the biggest market driver for IT services
In general, the IT services industry is shaped by a plethora of technologies and infrastructure strategies that complement each other. According to the Statista Market Insights, the development of artificial intelligence (AI), digital transformation, and cloud IT infrastructure are among the biggest market drivers for value change in the IT services industry. This comes as no surprise, as corporate interest in AI adoption has increased in recent years, with the market being set to explode in the coming years.Overall, the IT services market is poised for robust growth in the coming years. As businesses continue to prioritize digital transformation and seek to leverage AI, advanced analytics, and IoT capabilities, IT service providers are well-positioned to capitalize on these trends, ultimately driving growth in the sector.
