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Anticipated Surge In IT Consulting Market Expected To Reach $165 Billion By 2027, Says The Business Research Company || PricewaterhouseCoopers, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Infosys Limited
IT Consulting Market
IT Consulting Market Size, Growth Rate, And Forecast
The global IT consulting market size is expected to grow from $97.48 billion in 2022 to $107.35 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global IT consulting market size is expected to reach $165.58 billion in 2027 at a CAGR of 11.4%.
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IT Consulting Market Drivers
The growing adoption of cloud computing is expected to propel the growth of the IT consulting market going forward. Cloud computing is a platform that combines computation, storage, and network infrastructure to enable rapid application creation and dynamic scaling. Users of cloud computing technology can access storage, data, apps, and servers via internet-connected PCs, smartphones, tablets, and wearables. Cloud computing services process and store data away from end users. For instance, in January 2023, according to the 2022 State of DevOps Report published by Google, a US-based technology company, in 2022, 26% of users reported using numerous public clouds, up from 21% in 2021. The utilization of hybrid clouds increased from 25% to 42.5%. Additionally, in December 2021, according to statistics published by Eurostat, in 2021, 41% of EU enterprises adopted cloud computing. Therefore, the growing adoption of cloud computing is driving the growth of the IT consulting market.
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IT Consulting Market Segments
• By Type: Operations Consulting, Security Consulting, Strategy Consulting
• By Enterprise Size: Large Enterprise, Small and Medium Enterprise
• By Application: Government, BFSI, Telecommunications, Manufacturing, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the IT consulting market.
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IT Consulting Market Key Players
Major competitors in the IT consulting market are PricewaterhouseCoopers, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, Infosys Limited, Capgemini SE, The International Business Machines Corporation, CGI Inc., Mckinsey & Company.
The Business Research Company's "Global IT Consulting Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The IT Consulting Market Include:
1. Executive Summary
2. IT Consulting Market Characteristics
3. IT Consulting Market Trends And Strategies
4. IT Consulting Market - Macro Economic Scenario
5. IT Consulting Market Size And Growth
………………
27. IT Consulting Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The IT Consulting Market
29. IT Consulting Market Future Outlook and Potential Analysis
30. Appendix
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