Global IT Consulting Market Growth Accelerates: Strategic Forecast Predicts $184.72 Billion by 2029

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What Will the IT Consulting Industry Market Size Be by 2025?
Over the years, there has been a significant escalation in the size of the IT consulting market. The value, which is projected to rise from $101.67 billion in 2024, is expected to surge to $111.95 billion in 2025. This growth represents a compound annual growth rate (CAGR) of 10.1%. The main factors fueling this growth throughout the historical period include the spread of globalization, the heightened emphasis on cybersecurity, regulatory shifts, system upgrades to legacy technology, as well as strategic mergers and acquisitions.

What's the Long-Term Growth Forecast for the IT Consulting Market Size Through 2029?
The IT consulting sector is predicted to witness a swift expansion in the coming years, with its market size projected to reach $184.72 billion by 2029, boasting a compound annual growth rate (CAGR) of 13.3%. Factors such as the growing emphasis on sustainability, the rise of remote work and collaboration, AI and automation incorporation, data governance and privacy, as well as agile and adaptive approaches are likely to fuel growth during the forecasted period. Moreover, the upcoming trends in the sector, like accelerated digitization, emerging technologies, digital transition, technological advancements, and an increased focus on cybersecurity represent major drivers for the forecasted period.

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What Are the Key Growth Drivers Fueling the IT Consulting Market Expansion?
The IT consulting market is predicted to expand due to the increasing use of cloud computing. Cloud computing, a platform combining computational, storage, and network infrastructure, facilitates quick application development and dynamic scaling. This technology allows users to access storage, data, applications, and servers through internet-connected devices such as PCs, smartphones, tablets, and wearables. Cloud computing services process and store data remotely from the end users. For example, the 2022 State of DevOps Report by the US tech company, Google, reported that in 2022, the use of numerous public clouds rose from 21% to 26%, compared to the previous year. The use of hybrid clouds also saw increased usage, rising from 25% to 42.5%. Additionally, Eurostat data from December 2021 revealed that in 2021, 41% of EU enterprises made use of cloud computing. This growing trend in cloud computing technologies is, therefore, propelling the IT consulting market's growth.

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What Are the Key Trends Driving IT Consulting Market Growth?
The emergence of technological advancements is becoming a prominent trend in the IT consulting sector. Companies in this space are integrating modern technologies to maintain their market standing. For instance, in May 2022, ServiceNow, an American software firm, launched the Procurement Service Management (PSM) solution, a technology designed to help digitize and self-service sourcing tasks, hasten delivery times, and drastically reform procurement throughout the business. The modernization of procurement is a key priority for companies aiming to digitally revolutionize processes, shift employees to more strategic roles, and enhance supplier collaboration through more interactive, interconnected experiences.

How Is the IT Consulting Market Segmented?
The it consultingmarket 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 Companies Are Leading the Charge in IT Consulting Market Innovation?
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 Are Leading the Global IT Consulting Market in Revenue?
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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