IT Services Market Summary, Competitive Analysis and Forecast to 2027

IT Services Market Summary, Competitive Analysis and Forecast to 2027
Summary

Global IT Services industry profile provides top-line qualitative and quantitative summary information including: industry size (value 2018-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.

Key Highlights

The IT services industry is valued as the combination of the business process outsourcing (BPO) services market, the application services market and the infrastructure services market. Values include revenues generated from (a) signed deals that remain under contract and (b) new contracts signed within that particular calendar year.The BPO services market is defined as the revenues from services related to the following segments: customer relationship management (CRM), finance and accounting, human resources, knowledge process outsourcing, and procurement and supply-chain.The application services market is defined as the revenues from services related to the following segments: application development, application management and application performance monitoring.The infrastructure services market is defined as the revenues from services related to the following segments: cloud computing, data center & hosting services, IT management, security and storage. All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.The global IT services industry had total revenues of $1,422.3 billion in 2022, representing a compound annual growth rate (CAGR) of 10.5% between 2017 and 2022.The infrastructure services segment accounted for industry's the largest proportion in 2022, with total revenues of $891.7 billion, equivalent to 62.7% of the industry's overall value.The global IT services industry still experienced strong growth and is anticipated to continue growing over the coming years, despite the decline in the economy and rising inflation. This is due to the demand for improved operating resilience and increased operational resilience and accelerated investments in digital transformation.ScopeSave time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global it services industryUse the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global it services industryLeading company profiles reveal details of key it services industry players’ global operations and financial performanceAdd weight to presentations and pitches by understanding the future growth prospects of the global it services industry with five year forecastsReasons to BuyWhat was the size of the global it services industry by value in 2022?What will be the size of the global it services industry in 2027?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?