Cloud Computing Surge Ignites IT Consulting Market Growth: The Driving Engine Behind IT Consulting Market Evolution in 2025

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What Is the Expected CAGR for the IT Consulting Market Through 2025?
In recent times, we have witnessed a swift expansion in the size of the IT consulting market. It is projected to escalate from $102.32 billion in 2024 to $113.25 billion in 2025, sustaining a compound annual growth rate (CAGR) of 10.7%. Influential factors driving growth during the previous period include globalization, cybersecurity issues, regulatory modifications, updates to legacy systems, as well as strategic mergers and takeovers.

What's the Projected Size of the Global IT Consulting Market by 2029?
Anticipations are high for the IT consulting market to experience significant expansion in the coming years. The market is poised to hit $186.43 billion by 2029, expanding at a compound annual growth rate (CAGR) of 13.3%. The anticipated growth in the forecasted period is credited to a heightened focus on sustainability, remote work and cooperation, integration of AI and automation, data governance and privacy, and the implementation of agile and flexible strategies. The major trends predicted for the forecast period involve speedy digitalization, emerging advances in technology, digital transformation, technological progression, and an increased focus on cybersecurity.

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Top Growth Drivers in the IT Consulting Industry: What's Accelerating the Market?
The rise in the use of cloud computing is anticipated to drive the progression of the IT consulting market. Cloud computing is a combined platform that facilitates instant application creation and flexible scaling through computation, storage, and a networking framework. Internet-connected devices like PCs, smartphones, tablets, and wearable devices can use cloud computing technology for accessing storage, data, applications, and servers. It processes and stores data off-site from the end-user. For instance, the 2022 State of DevOps Report issued by US-based Google in January 2023 illustrated that the use of numerous public clouds jumped from 21% in 2021 to 26% in 2022. Concurrently, hybrid cloud usage rose from 25% to 42.5%. Moreover, Eurostat's December 2021 statistics revealed that 41% of the EU's businesses implemented cloud computing in 2021. As a result, the increasing prevalence of cloud computing is triggering the expansion of the IT consulting market.

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What Trends Will Shape the IT Consulting Market Through 2029 and Beyond?
The emergence of technological advancements is a prominent trend gathering momentum in the IT consulting sector. Firms active in the IT consulting space are leveraging novel technologies to uphold their market position. For instance, in May 2022, ServiceNow, an American software corporation, launched a technology known as Procurement Service Management (PSM) solution. This solution is designed to expedite the digital transformation and self-service of procurement tasks, leading to accelerated delivery times and a revolution in company-wide procurement. The modernization of procurement processes is a high-priority objective for businesses seeking to drive digital transformation, reallocate personnel to more strategic roles, and enhance supplier partnerships through more engaged, interactive experiences.

What Are the Main Segments in the IT Consulting Market?
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, Banking, Financial Services, And Insurance (BFSI), Telecommunications, Manufacturing, Other Applications

Subsegments:
1) By Operations Consulting: IT Infrastructure Optimization, Process Improvement, Digital Transformation Services, IT Service Management
2) By Security Consulting: Cybersecurity Assessment, Compliance And Risk Management, Data Protection And Privacy Consulting, Threat Intelligence And Incident Response
3) By Strategy Consulting: IT Strategy Development, Technology Roadmap Planning, Digital Strategy And Innovation, Mergers And Acquisitions IT Strategy

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Which Top Companies are Driving Growth in the IT Consulting Market?
Major companies operating in the IT consulting market include Mindtree Ltd., Deloitte Touche Tohmatsu Limited, accenture* 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, EPAM Systems Inc., Bain & Company, Capita plc, Virtusa Corporation, Rackspace Technology Inc., Wipro Limited, Nihilent Ltd., HCL Technologies Limited, Booz Allen Hamilton Holding Corporation, Gartner Inc., Hexaware Technologies Pvt Ltd., NCC Group

Which Regions Will Dominate the IT Consulting Market Through 2029?
Asia-Pacific was the largest region in the IT consulting market in 2024. The regions covered in the IT consulting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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