IT Services Market Value is Expected to Reach $4788.7 Billion by 2023 : Major Key Players Microsoft; IBM; HP; Oracle; Fujitsu | Covid 19 Impact And Recovery
The global it services market is expected to grow from $3450.1 billion in 2019 to $3506.2 billion in 2020 at a compound annual growth rate (CAGR) of 1.7%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 12% from 2021 and reach $4788.7 billion in 2023.
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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 information technology services market breaks down into custom computer programming services, computer systems design services and computer related services.
Over the past five years, cloud software solutions have been gaining acceptance from companies across all industries. Cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. Cloud software solutions are widely used in customer relationship management (CRM), HR/payroll, project management and accounting software systems. For example, Vodafone is utilizing Salesforce.com’s software services to make connections through social media.
IT Services Market Segmentation: -
Hardware Support Services
Software And BPO Services
By Organisation Size
Small And Medium Enterprises
By End-User Industry
Retail & Wholesale
By Service Provider Location
Rest of the World
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. IT Services Market Characteristics
4. IT Services Market Product Analysis
5. IT Services Market Supply Chain
21. Key Mergers And Acquisitions In The IT Services Market
22. Market Background: Information Technology Market
25. Copyright And Disclaimer
The report covers the trends and market dynamics of the IT Services Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the IT Services Market are Microsoft; IBM; HP; Oracle; Fujitsu
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