The Global Information Technology Market Report by The Business Research Company covers information technology market drivers and restraints, information technology market size, major players, and the impact of COVID-19 on the information technology market.

The information technology (IT) market consists of sales of information technology (IT) services and related goods by entities (organizations, sole traders and partnerships) that apply computers, computer peripherals and telecommunications equipment to store, retrieve, transmit and maneuver data. The IT market involves services such as computer networking, broadcasting, systems design services and information distribution technologies like television and telephones and other equipment used during the process. The IT market also includes sales of goods such as computers, computer peripherals and telecommunications equipment which are used in providing IT services. The IT market is segmented into IT services, computer hardware, telecom and software products.

The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. The global information technology market is expected to grow from $7850.57 billion in 2020 to $8370.95 billion in 2021 at a compound annual growth rate (CAGR) of 6.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11866.34 billion in 2025 at a CAGR of 9%.

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Some information technology market trends include low cost open source alternatives. Over the past five years there has been an increasing prevalence of low cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software publishers would open source software that was not making money, but now companies are open sourcing software to increase its presence and share in the market. According to Allison Randal, President, Open Source Initiative, 78% of companies use open source solutions and 64% participate in open source projects indicating an increase in open source software platforms to build applications in 2015.

Global information technology market segments include:

1) By Type: IT Services, Computer Hardware, Telecom, Software Products.

2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.

3) By Nature: Organic, Conventional.

Subsegments covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software.

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest global information technology market share.

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The Information Technology Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides information technology market overviews, analyzes and forecasts market size, share, information technology market players, information technology market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The information technology market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Where To Learn More:

Read Information Technology Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.

Market Players Covered: AT&T, Apple, Verizon Communications Inc., China Mobile Ltd, Microsoft
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Information Technology Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The Information Technology Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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