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IT Services Global Industry Almanac 2020-2029

Summary

Global IT Services industry profile provides top-line qualitative and quantitative summary information including: industry size (value , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.

Key Highlights

- IT services market involves the design, development, implementation, management, and support of information technology systems and applications for organizations. Market values include revenues generated from (a) signed deals that remain under contract and (b) new contracts signed within that calendar year.
- The market is segmented into BPO services, application services, and infrastructure services. The BPO services segment includes customer relationship management (CRM), finance and accounting, human resources, knowledge process outsourcing, and procurement and supply chain. The application services segment covers application development, application management, and application performance monitoring. Infrastructure services segment includes cloud computing, data center & hosting services, IT management, managed security services, and storage services.
- All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using the yearly annual average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
- The global IT services industry recorded revenues of $1,795.0 billion in 2024, representing a compound annual growth rate (CAGR) of 8.2% between 2019 and 2024.
- The infrastructure services segment accounted for the industry's largest proportion in 2024, with total revenues of $1,139.9 billion, equivalent to 63.5% of the industry's overall value.
- In 2024, the global IT services industry recorded an annual growth of 9.6% due to the accelerating digital transformation among small and medium-sized enterprises (SMEs). According to the US Small Business Administration (SBA), in 2024, the US had approximately 34.8 million small businesses. These small businesses lack the in-house technical expertise, leading to greater reliance on IT service providers for outsourced solutions.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global it services industry
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global it services industry
- Leading company profiles reveal details of key it services industry players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the global it services industry with five year forecasts

Reasons To Buy

- What was the size of the global it services industry by value in 2024?
- What will be the size of the global it services industry in 2029?
- What factors are affecting the strength of competition in the global it services industry?
- How has the industry performed over the last five years?
- What are the main segments that make up the global it services industry?