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IT Services Market Size, Share & Trends Analysis Report By Approach (Reactive IT Services, Proactive IT Services), By Type, By Application, By Technology, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2024 - 2030

October 2024 | 120 pages | ID: I9DA20DDBD65EN
Grand View Research, Inc.

US$ 4,950.00

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IT Services Market Growth & Trends

The global IT services market size is expected treach USD 2.59 trillion by 2030, according ta new report by Grand View Research, Inc. The market is anticipated tgrow at a CAGR of 9.5% from 2024 t2030 Increasing concerns regarding data security and privacy protection drive the demand for IT services from companies across various industry verticals. Moreover, rising network infrastructure complications are the main impediments teffective data security management, thus driving the requirement for and implementation of IT services. The need for IT infrastructure from SMEs has grown significantly over recent years, boosting market growth. SMEs heavily invest in IT support services across industries, including e-commerce, particularly start-ups such as Indian food ordering and delivery platform Swiggy, whose complete enterprise depends on IT infrastructure.

Businesses of all sizes and industries increasingly provide their employees with digital tools. AI and machine learning (ML) are revolutionizing the market. The vast availability of data empowers AI tanalyze extensive datasets, extract valuable insights, and optimize decision-making processes, leading tenhanced personalized customer experiences and streamlined operations. As computing power costs decrease, businesses are adopting AI solutions more affordably, facilitating real-time fraud detection and predictive maintenance. The growing demand for automation drives the implementation of AI and ML in streamlining tasks such as customer service, freeing human resources for more intricate roles, and fueling market expansion. With continuous advancements in AI technology and increasing investment from various industries, the market is witnessing a remarkable transformation and exponential growth.

The increase in demand for cloud services is alsdriving the industry growth. With governments making substantial investments in the IT industry, the demand for IT support services has increased. One key reason for the widespread popularity of cloud services is their superior data security compared ton-site servers. Cloud storage ensures data integrity and remains impervious tphysical threats like theft or building damage. Numerous corporate enterprises have expressed positive experiences with cloud computing's security as it reduces human mistakes. Additionally, cloud computing safeguards the private data of multiple companies.

IT Services Market Report Highlights
    • The reactive IT services segment led the market in 2023. Factors, such as adopting new technologies, software updates, and cybersecurity threats, have led ta higher demand for reactive IT services
    • The application management segment held the largest revenue share in 2023 due tfactors, such as the rising complexity of enterprise applications, need for improved IT agility & efficiency, and growing demand for mobile applications
  • The AI and ML segment held the largest revenue share in 2023. With continuous advancements in AI technology and increasing investment from various industries, the market is witnessing a remarkable transformation and exponential growth
  • The on-premises segment held the largest revenue share in 2023. On-premises solutions offer a higher level of control and security over data and applications
    • The IT & telecom segment held the largest revenue share in 2023. The telecommunications sector often requires significant IT services support texpand and maintain network infrastructure. For instance, the rollout of 5G networks has driven the demand for IT services in this segment
  • North America dominated the market in 2023 accounting for over 36.5% share of the global revenue. The region, particularly the U.S., has a strong and diverse economy that drives investments in IT services
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
  1.3.1. Information Procurement
  1.3.2. Information or Data Analysis
  1.3.3. Market Formulation & Data Visualization
  1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
  1.4.1. List of Data Sources

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

CHAPTER 3. IT SERVICES MARKET VARIABLES, TRENDS, & SCOPE

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Billion)
3.3. Market Dynamics
  3.3.1. Market Drivers Analysis
  3.3.2. Market Restraints Analysis
3.4. IT Services Market Analysis Tools
  3.4.1. Porter’s Analysis
    3.4.1.1. Bargaining power of the suppliers
    3.4.1.2. Bargaining power of the buyers
    3.4.1.3. Threats of substitution
    3.4.1.4. Threats from new entrants
    3.4.1.5. Competitive rivalry
  3.4.2. PESTEL Analysis
    3.4.2.1. Political Landscape
    3.4.2.2. Economic and Social Landscape
    3.4.2.3. Technological Landscape
    3.4.2.4. Environmental Landscape
    3.4.2.5. Legal Landscape

CHAPTER 4. IT SERVICES MARKET: APPROACH ESTIMATES & TREND ANALYSIS

4.1. Segment Dashboard
4.2. IT Services Market: Approach Movement Analysis, 2023 & 2030 (USD Billion)
4.3. Reactive IT Services
  4.3.1. Reactive IT Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
4.4. Proactive IT Services
  4.4.1. Proactive IT Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 5. IT SERVICES MARKET: TYPE ESTIMATES & TREND ANALYSIS

5.1. Segment Dashboard
5.2. IT Services Market: Type Movement Analysis, 2023 & 2030 (USD Billion)
5.3. Design & Implementation
  5.3.1. Design & Implementation Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
5.4. Operations & Maintenance
  5.4.1. Operations & Maintenance Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 6. IT SERVICES MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

6.1. Segment Dashboard
6.2. IT Services Market: Application Movement Analysis, 2023 & 2030 (USD Billion)
6.3. Systems & Network Management
  6.3.1. Systems & Network Management Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.4. Data Management
  6.4.1. Data Management Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.5. Application Management
  6.5.1. Application Management Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.6. Security & Compliance Management
  6.6.1. Security & Compliance Management Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
6.7. Others
  6.7.1. Others Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 7. IT SERVICES MARKET: TECHNOLOGY ESTIMATES & TREND ANALYSIS

7.1. Segment Dashboard
7.2. IT Services Market: Technology Movement Analysis, 2023 & 2030 (USD Billion)
7.3. AI & Machine Learning
  7.3.1. AI & Machine Learning Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
7.4. Big Data Analytics
  7.4.1. Big Data Analytics Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
7.5. Threat Intelligence
  7.5.1. Threat Intelligence Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
7.6. Others
  7.6.1. Other Technologies Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 8. IT SERVICES MARKET: DEPLOYMENT ESTIMATES & TREND ANALYSIS

8.1. Segment Dashboard
  8.1.1. IT Services Market: Deployment Movement Analysis, 2023 & 2030 (USD Billion)
8.2. On-premises
  8.2.1. On-premises Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
8.3. Cloud
  8.3.1. Cloud Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 9. IT SERVICES MARKET: ENTERPRISE SIZE ESTIMATES & TREND ANALYSIS

9.1. Segment Dashboard
9.2. IT Services Market: Enterprise Size Movement Analysis, 2023 & 2030 (USD Billion)
9.3. Large Enterprise
  9.3.1. Large Enterprise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
9.4. Small & Medium Enterprise
  9.4.1. Small & Medium Enterprise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 10. IT SERVICES MARKET: END USE ESTIMATES & TREND ANALYSIS

10.1. Segment Dashboard
10.2. IT Services Market: End Use Movement Analysis, 2023 & 2030 (USD Billion)
10.3. BFSI
  10.3.1. BFSI Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.4. Government
  10.4.1. Government Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.5. Healthcare
  10.5.1. Healthcare Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.6. Manufacturing
  10.6.1. Manufacturing Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.7. Media & Communications
  10.7.1. Media & Communications Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.8. Retail
  10.8.1. Retail Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.9. IT & Telecom
  10.9.1. IT & Telecom Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)
10.10. Others
  10.10.1. Other End Uses Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 11. IT SERVICES MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

11.1. IT Services Market Share, By Region, 2023 & 2030, USD Billion
11.2. North America
  11.2.1. North America IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.2.2. U.S.
    11.2.2.1. U.S. IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.2.3. Canada
    11.2.3.1. Canada IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
11.3. Europe
  11.3.1. Europe IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.3.2. UK
    11.3.2.1. UK IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.3.3. Germany
    11.3.3.1. Germany IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.3.4. France
    11.3.4.1. France IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
11.4. Asia Pacific
  11.4.1. Asia Pacific IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.4.2. China
    11.4.2.1. China IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.4.3. Japan
    11.4.3.1. Japan IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.4.4. India
    11.4.4.1. India IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.4.5. South Korea
    11.4.5.1. South Korea IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.4.6. Australia
    11.4.6.1. Australia IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
11.5. Latin America
  11.5.1. Latin America IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.5.2. Brazil
    11.5.2.1. Brazil IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.5.3. Mexico
    11.5.3.1. Mexico IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
11.6. Middle East and Africa
  11.6.1. Middle East and Africa IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.6.2. South Africa
    11.6.2.1. South Africa IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.6.3. Saudi Arabia
    11.6.3.1. Saudi Arabia IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)
  11.6.4. UAE
    11.6.4.1. UAE IT Services Market Estimates and Forecasts, 2017 - 2030 (USD Billion)

CHAPTER 12. COMPETITIVE LANDSCAPE

12.1. Recent Developments & Impact Analysis by Key Market Participants
12.2. Company Categorization
12.3. Company Heat Map Analysis
12.4. Company Profiles
  12.4.1. IBM
    12.4.1.1. Participant’s Overview
    12.4.1.2. Financial Performance
    12.4.1.3. Product Benchmarking
    12.4.1.4. Recent Developments/ Strategic Initiatives
  12.4.2. Accenture
    12.4.2.1. Participant’s Overview
    12.4.2.2. Financial Performance
    12.4.2.3. Product Benchmarking
    12.4.2.4. Recent Developments/ Strategic Initiatives
  12.4.3. TATA Consultancy Services Limited
    12.4.3.1. Participant’s Overview
    12.4.3.2. Financial Performance
    12.4.3.3. Product Benchmarking
    12.4.3.4. Recent Developments/ Strategic Initiatives
  12.4.4. Infosys Limited
    12.4.4.1. Participant’s Overview
    12.4.4.2. Financial Performance
    12.4.4.3. Product Benchmarking
    12.4.4.4. Recent Developments/ Strategic Initiatives
  12.4.5. Wipro
    12.4.5.1. Participant’s Overview
    12.4.5.2. Financial Performance
    12.4.5.3. Product Benchmarking
    12.4.5.4. Recent Developments/ Strategic Initiatives
  12.4.6. Capgemini
    12.4.6.1. Participant’s Overview
    12.4.6.2. Financial Performance
    12.4.6.3. Product Benchmarking
    12.4.6.4. Recent Developments/ Strategic Initiatives
  12.4.7. Cognizant
    12.4.7.1. Participant’s Overview
    12.4.7.2. Financial Performance
    12.4.7.3. Product Benchmarking
    12.4.7.4. Recent Developments/ Strategic Initiatives
  12.4.8. Cisco Systems, Inc.
    12.4.8.1. Participant’s Overview
    12.4.8.2. Financial Performance
    12.4.8.3. Product Benchmarking
    12.4.8.4. Recent Developments/ Strategic Initiatives
  12.4.9. HCL Technologies Limited
    12.4.9.1. Participant’s Overview
    12.4.9.2. Financial Performance
    12.4.9.3. Product Benchmarking
    12.4.9.4. Recent Developments/ Strategic Initiatives
  12.4.10. DXC Technology Company
    12.4.10.1. Participant’s Overview
    12.4.10.2. Financial Performance
    12.4.10.3. Product Benchmarking
    12.4.10.4. Recent Developments/ Strategic Initiatives
  12.4.11. Microsoft
    12.4.11.1. Participant’s Overview
    12.4.11.2. Financial Performance
    12.4.11.3. Product Benchmarking
    12.4.11.4. Recent Developments/ Strategic Initiatives


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