The Global IT Services Market Report by The Business Research Company covers IT services market drivers and restraints, IT services market size, major players, and the impact of COVID-19 on the IT services market.
The IT services market consists of sales of IT services and related goods by entities (organizations, sole traders and partnerships) that apply technical expertise and knowledge to enable organizations to create, manage and optimize their IT processes. The IT services market is segmented into hardware support services, software and BPO services and cloud services.
Access to the internet varies widely across the globe, with relatively poor access to the internet in developing countries than developed nations.
The global IT services market is expected to grow from $3501.26 billion in 2020 to $3745.08 billion in 2021 at a compound annual growth rate (CAGR) of 7%. 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 $5734.09 billion in 2025 at a CAGR of 11%.
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Some IT services market trends include data analytics. Data analytics is increasingly being used across all industries to find key information from raw data for better decision making. Data analytics examines large amounts of data to identify correlations and hidden patterns that may directly or indirectly affect business. Major companies across different industries are using data analytics tools. Data analytics tools are specific to the industry, and custom computer programming companies are offering customized data analytics tools based upon the functioning and demands of their clients.
Global IT services market segments include:
1) By Type: Hardware Support Services, Software And BPO Services, Cloud Services.
2) By Organisation Size: Large Enterprises, Small And Medium Enterprises.
3) By End-User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Others.
4) By Service Provider Location: North America, Asia Pacific, Western Europe, Eastern Europe, Rest of the World.
Subsegments Covered: Computer And Peripherals Support Services, Storage And Servers Support Services, Networking Support Services, Other Hardware Support Services, BPO Services, Software Services, Software as a service (SaaS), Platform as a service (PaaS), Infrastructure as a service (IaaS), Business Process as a service (BPaaS).
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 IT services market share.
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The IT Services 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 IT services market overviews, analyzes and forecasts market size, share, IT services market players, IT services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The IT services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read IT Services 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: Microsoft, IBM, HP, Oracle, Fujitsu.
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 IT Services 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 IT Services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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