IT Professional Services Market Report 2024: Trends, Share, Size, Growth Opportunities, In-Depth Analysis And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the IT Professional Services Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The IT professional services market size has grown strongly in recent years. It will grow from $845.56 billion in 2023 to $923.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to proliferation of mobile devices, growing cybersecurity concerns, outsourcing trends, remote work enablement, rise of the Internet.

The IT professional services market size is expected to see strong growth in the next few years. It will grow to $1348.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to rollout of 5G networks, proliferation of IoT devices, adoption of AR/VR technologies, remote work support, growing emphasis on sustainability. Major trends in the forecast period include AI-driven automation, cybersecurity innovation, hybrid cloud solutions, cross-platform integration, user-friendly IT solutions.

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Key Market Players:
Major companies operating in the IT professional services market report are Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., Ernst & Young Global Limited, Oracle Corporation, KPMG International Ltd., Salesforce Inc., Tata Consultancy Services Limited, Hewlett Packard Enterprise Company, Fujitsu Limited, Larsen & Toubro Infotech Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., DXC Technology Company, Atos SE, VMware Inc., Wipro Limited, CGI Inc., HCL Technologies Limited, Tech Mahindra Limited, Mphasis Limited, Mindtree Limited, Hexaware Technologies Limited, Syntel Inc., Datto Inc.

Market Drivers:
The increasing demand for digital upgrades for businesses is expected to propel the growth of the IT professional services market going forward. The digital upgrade is either buying a new platform or updating old systems to deal with technological issues. Digital upgrades typically save staff time, decrease system downtime, and enhance end-user experiences. For instance, in 2021, according to PTC, an American computer software and services company, more than 52% of companies will have completed digital transformations or are in the process of doing so. Therefore, the increasing demand for digital upgrades for businesses will drive the growth of the IT professional services market.

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The IT Professional services market covered in this report is segmented -
1) By Type: Project-Oriented Services, ITO Services, IT Support And Training Services, Enterprise Cloud Computing Services
2) By Deployment: On-Premise, Cloud
3) By End-Use: Technology Companies, Consulting Companies, Marketing And Communication Companies, Other End-Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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