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Information Technology Market Estimated Growth Curve, Trends, Size, Share, and In-Depth Analysis Report 2024-2033
Information Technology Market
The Business Research Company presents an extensive market research report on the Information Technology 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 information technology market size has grown strongly in recent years. It will grow from $8508.63 billion in 2023 to $9039 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased personal computing, internet adoption, mobile revolution, growth of software development advancements, open source movement, cybersecurity concerns.
The information technology market size is expected to see strong growth in the next few years. It will grow to $12417.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to globalization of it services, digital transformation, cybersecurity innovations, smart cities development, e-commerce evolution. Major trends in the forecast period include hybrid work environments, cloud computing, climate tech solutions, ai in business processes, sustainable it practices, blockchain technologies.
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Key Market Players:
Major companies operating in the information technology market report are Wipro, Google LLC, Microsoft Corporation, Verizon Communications Inc., Dell Inc., Amazon Web Services Inc., The International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Salesforce.com Inc., Cognizant, Infosys Limited, Fiserv Inc., RELX plc, News Corporation, Thomson Reuters, Gartner Inc., Equifax Inc., Citrix Systems Inc., HCL Technologies Limited, Epsilon Data Management LLC, The New York Times Company, Palantir Technologies Inc., FactSet Research Systems Inc., The New York Public Library, Queens Public Library, King County Library System, Toshiba Software India Pvt Ltd., Cuyahoga County Public Library., FUJI MEDIA HOLDINGS INC., Tribune Media Company
Market Drivers:
The demand for cloud computing services is expected to drive the demand for IT services during the forecast period. In the cloud computing model, data is stored on the internet by a cloud computing provider, who manages and operates data storage as a service. Many companies are now choosing applications hosted in the cloud for their day-to-day operations. For example, according to statistics provided by hostingtribunal.com, 94% of enterprise workloads are expected to be processed by cloud data centers in 2021. Companies are also opting for cloud-based data storage, thus boosting the demand for IT services.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/information-technology-global-market-report
The information technology market covered in this report is segmented -
1) By Type: IT Services, Computer Hardware, Telecom, Software Products
2) By Organization Size: Large Enterprise, Small and Medium Enterprise
3) By End User: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End Users
Subsegments Covered: Hardware Support Services, Software And BPO Services, Cloud Services, Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers, Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communications Hardware, Satellite & Telecommunication Resellers, Operating Systems & Productivity Software Publishing, Database, Storage & Backup Software Publishing, Business Analytics & Enterprise Software, Video Game Software, Design, Editing & Rendering Software
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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