North America IT Services Market Professional Services, Managed Services, and Telecom Services, Covid-19 Impact and Key Players Analysis

The North America IT Services market size is expected to grow from USD 459.2 billion in 2021 to USD 660.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. Digital business transformation has entered a more challenging and urgency-driven phase due to the COVID-19 pandemic. Global giants are providing customers with cost-effective and productive digital solutions as every industry is economically hard-hit from the pandemic. The IT Services market in verticals such as IT, telecom, BFSI, and media and entertainment has been impacted positively due to the work from home initiative. Employees are using cloud collaboration platforms for communicating and consuming OTT streaming services heavily as they need to stay at home amidst lockdowns.

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Professional Services to help enterprises in enhancing infrastructure scalability and performance with effective service towards customers customization demand
The enterprises are increasingly outsourcing their operational, day-to-day activities surrounding the IT infrastructure, to third-party providers to concentrate on their core business activities. This factor is expected to drive the demand of managed services segment. The increasing usage of cloud-based applications across enterprises from the region is driving the growth of the regional market.

Healthcare vertical to grow at the highest rate during the forecast period
The Healthcare vertical is one of the fastest-growing verticals with respect to the adoption of emerging and innovative technologies under IT Services, such as software development-integration-maintenance, networking development-integration-maintenance, Information Security, Mobile services, and Web applications. The increased IT spending has made this vertical a front runner in this market. Various factors driving this adoption are the rising purchasing power of customers and the need to satisfy customer expectations leading to the existing customer retention and new customer acquisition. Along with the expenses on professional services for IT deployment, the IT spend on managed services is also increasing.

United States in North America to hold the largest market size during the forecast period
United States is the most mature market in terms of IT Service offerings adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adapt to the diverse IT services offerings.

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In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants as follows:
• By Company Type: Tier I: 15%, Tier II: 26%, and Tier III: 59%
• By Designation: C-Level: 54%, D-Level: 33%, and Others: 13%
• By Region: North America – 35% : Europe – 28% : APAC – 22%, and RoW – 15%

The report profiles the following key vendors:
• IBM (US)
• Hewlett Packard Enterprise (US)
• CISCO (US)
• Wipro (India)
• HCL Technologies Limited (India)
• Cognizant (US)
• Infosys (India)
• Rackspace (US)
• Tata Consultancy Services (India)
• Fujitsu (Japan)
• Capgemini (France)
• Ericsson (Sweden)
• Huawei Technologies Co. Ltd. (China)
• Nokia Networks (Finland)
• GTT Communications (US)
• SAP (Germany)
• DCX (US)
• NTT Data (Japan)
• NEC (Japan)
• Deloitte (UK)
• Virtuestream (US)
• DigitalOcean (US)
• Bluelock (US)
• Navisite (US)
• CenturyLink (US)
• Infor (US)
• OpenText (Canada)
• Citrix (US)
• IFS (Sweden)

Research Coverage:
• The report segments the North America IT Services market by service model, the North America IT Services market has been segmented into Professional, Managed and Telecom services. The Professional service model has been further segmented into System integration, Training and Education and Consulting. The Managed service model has been further segmented into Managed Security service, Managed Network service, Managed Data center and Infrastructure service, Managed Communication and Collaboration service, Managed Mobility service, Managed Information service. By the deployment model, the North America IT Services market has been segmented into a On-premises and Cloud. Based on organization size, the market has been classified into Small and Medium-sized Businesses (SMBs) and large Enterprises. By vertical, the North America IT Services market has been classified into Banking, Financial Services, and Insurance (BFSI); telecommunications; IT and Information Technology-enabled Services (ITeS); government and public sector; retail and consumer goods; manufacturing; healthcare and life sciences; media and entertainment; energy and utilities; and others (education, travel and hospitality, and transportation and logistics). By region, the market has been segmented and studied for North America.

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Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the North America IT Services market with information on the closest approximations of the revenue numbers for the overall North America IT Services market and the sub segments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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