IT Consulting Market New Trends, Growth Opportunities, Top Players And Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

IT Consulting Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $183.99 billion In 2028 At A CAGR Of 12.7% :

The IT consulting market size has grown strongly in recent years. It will grow from $104.88 billion in 2023 to $114.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to globalization, cybersecurity concerns, regulatory changes, legacy system upgrades, strategic mergers and acquisitions.

The IT consulting market size is expected to see rapid growth in the next few years. It will grow to $183.99 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to increased focus on sustainability, remote work and collaboration, AI and automation integration, data governance and privacy, agile and adaptive strategies. Major trends in the forecast period include rapid digitization, emerging technologies, digital transformation, technological advancements, cybersecurity emphasis.

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IT Consulting Market Major Segments
The IT consulting market covered in this report is segmented -

1) By Type: Operations Consulting, Security Consulting, Strategy Consulting
2) By Enterprise Size: Large Enterprise, Small and Medium Enterprise
3) By Application: Government, BFSI, Telecommunications, Manufacturing, Other Applications

Key Driver - Cloud Computing Surge Ignites IT Consulting Market Growth

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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Prominent Trend - Unveiling Technological Solution For IT Consulting

Technology innovations are a key trend gaining popularity in the IT consulting market. Companies operating in the IT consulting market are adopting new technologies to sustain their position in the market. For instance, in May 2022, ServiceNow, a US-based software company, introduced the Procurement Service Management (PSM) solution, a technology to aid in the digitization and self-service of sourcing tasks to speed up delivery times and revolutionize procurement across the company. Procurement modernization is a critical priority for firms looking to digitally transform processes, reallocate workers to more strategic duties, and improve supplier collaboration with more connected, interactive experiences.

IT Consulting Market Players
Major companies operating in the IT consulting market report are Mindtree Ltd., Deloitte Touche Tohmatsu Limited, HP Inc., Accent*ure plc, The International Business Machines Corporation, PricewaterhouseCoopers Pvt Ltd., Ernst & Young Global Limited, Fujitsu Limited, Tata Consultancy Services Limited, NEC Corporation, Capgemini SE, NTT Data Corporation, Cognizant, Infosys Limited, DXC Technology Company, Atos SE, Boston Consulting Group Inc., McKinsey & Company, CGI Inc., Tech Mahindra, Hexagon AB, EPAM Systems Inc., Bain & Company, Capita plc, Virtusa Corporation, Rackspace Technology Inc., Wipro Limited, Pegasystems Inc., Nihilent Ltd., HCL Technologies Limited, Booz Allen Hamilton Holding Corporation, Gartner Inc., Hexaware Technologies Pvt Ltd., NCC Group

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the IT consulting market in 2023. The regions covered in the it consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. IT Consulting Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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