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IT Services Market Future Demands & Dynamics with Production, Cost Structure and Manufacturing Process Lookheed IBM, HP, Fujitsu, Accenture, CSC, Capgemini

08-29-2019 07:42 AM CET | IT, New Media & Software

Press release from: Worldwide Market Reports

IT Services

IT Services

Enterprises across various end-use industries are under mounting pressures to reduce capital expenditures and increase operational efficiencies. The adoption of IT professional services has been growing as these services can help reduce the overall IT costs, and in turn, the capital expenditure. Benefits associated with these services, such as ease of deployment, lesser risk, and higher security, have also been aiding the market growth.

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Incumbents of the BFSI, retail, telecommunication, and IT industries prefer cloud-based services. As the number of enterprises opting for digital transformation continues to increase, vendors are finding it more convenient to deliver IT services through the cloud technology. It also allows providers to expand their geographic reach and offer scalable services, as well as on-demand support.

Tech companies, marketing firms, and consulting companies are the largest users of IT professional services. Digitization, big data analytics, and Business Intelligence (BI) are some of the key functionalities being outsourced to reduce the administrative costs and overheads. However, concerns over data security and protection of privacy and confidentiality are some of the factors that may hinder the market growth.

Scope of the Report:
IT services are included System Integration, Cloud Computing Service, IT Consulting, System Support, etc. The service areas (application) are: Enterprise, Financial, Government, Healthcare & Medical, and Others. And Enterprise was the widest area which took up about 50% of the global total in 2016.

North America is the largest IT service market in the world these years, and USA is the largest consumption countries of IT services in the world in the past few years and it will keep increasing in the next few years. USA market took up about 36% the global market in 2016 (90% of North America IT service market), while Europe was about 29%, and Japan is followed with the share about 13.5%.

USA, UK, Japan and India are now the key developers of IT services. There are some vendors with poor quality or introduced products, but the Chinese market is still controlled by the abroad vendors. And the high quality products are mainly supplied by overseas providers.

IBM, HP, Fujitsu, Accenture, CSC, Lookheed, Capgemini, NTT Data, SAIC, Xerox, Oracle, Hitachi, NCC, ADP, NEC, TCS, Infosys, Atos, Wipro, HCL Tech, BT Global Services, and Capita are the key suppliers in the global IT services market. Top 10 took up about 23.8% of the global market in 2016. Abroad vendors took up more than 50% of the Chinese market. IBM, HP, Fujitsu, Accenture is the most popular IT services in the world. 

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Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends.

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