IT Services Market Market size, Industry outlook, Market Forecast, Demand Analysis, Market Share, Market Report 2022-2027
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Global IT Services Market size is expected to reach $1123.57 billion by 2025, growing at a CAGR of 8.02% during 2020-2025.
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IT services is experiencing rapid growth among SMEs since 2018 and is expected to capture more than 80% market share by 2025.
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Key Takeaways
•North America dominates the IT services market owing to rising preferences of companies to avail cloud based services. •The rising penetration IoT based devices and large volume of data generation in enterprises are creating new opportunity for IT services market. •Cloud based IT services is expected to accelerate the IT services market at a faster pace due to low cost deployment. •Lack of standardization would lead end users to spend in IT services with uncertain ROI, which may inhibit the IT services industry growth.
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IT Services Market Segment Analysis - By Deployment Type The cloud based IT services is gaining popularity owing to low cost of deployment. Similarly, with the cloud based IT services, scale up and scale down of businesses can be achieved easily. Thus, cloud based IT services is considered to be the most effective deployment platform by many small and medium sized enterprises in recent time. Cloud based IT Services is expected to grow at a CAGR of 9.98% during 20202025. In 2019, approximately 80% of companies worldwide were using some form of cloud based services, out of which 15%-20% companies are likely to choose 100% cloud based services in next 5 years. It is also expected that by 2020, 60% enterprise software will be fully cloud based.
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IT Services Market Industry Outlook • • • • • • • • •
Accenture Autotask Corporation Capgemini DXC Technology Company Fujitsu Limited Hewlett Packard Enterprise Development International Business Machines (IBM) Corporation Microsoft Corporation Oracle Corporation.
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IT Services Market - Forecast(2022 - 2027) Learn More About the Report @ https://www.industryarc.com/Resear ch/IT-Services-Market-Research-50 1180 Contact: (+1) 970-2363677 Email: sales@industryarc.com
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