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IT Infrastructure Services Market Size, Trends And Global Growth Report 2024-2033
IT Infrastructure Services Market Size
According to The Business Research Company's, The IT infrastructure services market size has grown rapidly in recent years. It will grow from $93.18 billion in 2023 to $104.45 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to the initial adoption of IT infrastructure services by enterprises, the rise of cloud computing technology, the rise in digital transformation initiatives, and rapid growth in data volumes and complexity.
The IT infrastructure services market size is expected to see rapid growth in the next few years. It will grow to $167.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to the rise in adoption of hybrid and multi-cloud strategies by enterprises, rise in sustainability and energy efficiency, heightened focus on zero trust security principles, evolving regulatory landscape, and data privacy regulations. Major trends in the forecast period include the adoption of edge computing architectures, the adoption of hybrid and multi-cloud strategies, the adoption of containerization and microservices architectures, the adoption of DevOps practices and CI/CD pipelines, the integration of AI and machine learning capabilities.
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Market Drivers and Trends:
A rise in data traffic is expected to propel the growth of the IT infrastructure services market going forward. Data traffic refers to the movement of digital information across a network, such as the Internet or a local area network (LAN). The surge in data traffic is due to the increasing adoption of cloud computing services and the proliferation of internet-connected devices. IT infrastructure services manage and optimize data traffic by ensuring robust network connectivity, efficient data transmission, and scalable infrastructure to accommodate growing data volumes, enhancing reliability and performance across digital ecosystems. For instance, in November 2023, according to a report published by Telefonaktiebolaget LM Ericsson (Ericsson), a Sweden-based networking and telecommunications company, global mobile data traffic (excluding fixed wireless access) is projected to surge from 130 exabytes (EB) per month in 2023 to around 403 exabytes (EB) per month by 2029. Therefore, the rise in data traffic is driving the growth of the IT infrastructure services market.
Major companies operating in the IT infrastructure services market focus on developing innovative technologies, such as Artificial Intelligence for IT Operations (AIOps), to sustain their position in the market. AIOps technology combines artificial intelligence (AI) and machine learning (ML) algorithms with big data analytics to automate and enhance various IT infrastructure management and operations aspects. For instance, in May 2023, NTT Ltd., a Japan-based IT infrastructure and services company, launched SPEKTRA (Sentient Platform for Network Transformation), the next generation of its global services platform for NTT Managed Networks solutions. This platform leverages artificial intelligence for IT operations (AIOps), predictive analytics, and automation techniques to create a fully autonomous Network Operations Center (NOC). It incorporates cloud and edge capabilities, advanced anomaly detection, and broader service level metrics to meet evolving customer demands. SPEKTRA introduces cloud and edge features such as SPEKTRA Cloud and SPEKTRA Edge, providing centralized AI-driven automation and advanced connectivity services.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Microsoft Corporation, AT&T Inc., Dell Technologies Inc., Intel Corporation, The Hewlett-Packard Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Fujitsu Ltd., Deutsche Telekom AG, Salesforce Inc., Adobe Inc., ServiceNow Inc., NetApp Inc., Palo Alto Networks Inc., Fortinet Inc., F5 Networks Inc., Splunk Inc., Nutanix Inc., Alcatel-Lucent S.A, Neusoft Corporation, Synoptek LLC, Rave Technologies Pvt. Ltd, Amnet Technology Pte Ltd
IT Infrastructure Services Market 2024 Key Insights:
• The IT infrastructure services market size is expected to see rapid growth in the next few years. It will grow to $167.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
• Surge In Data Traffic Fuels Growth In The IT Infrastructure Services Market
• Innovative Technologies Shaping The IT Infrastructure Services Market
• North America was the largest region in the IT infrastructure services market in 2023
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Learn More About The Business Research Company
The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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