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Accenture Plc
Amazon.com Inc.
Avaya LLC
Broadcom Inc.
Cisco Systems Inc.
Cognizant Technology Solutions Corp.
Dell Technologies Inc.
DXC Technology Co.
Fortinet Inc.
Hewlett Packard Enterprise Co
Huawei Technologies Co. Ltd.
International Business Machines Corp.
Juniper Networks Inc.
Microsoft Corp.
Oracle Corp.
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KSA
IT Services Market 2024-2028
The it services market is forecasted to grow by USD 676.5 bn during 2023-2028, accelerating at a CAGR of 8.64% during the forecast period. The report on the it services market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising adoption of AI in information management, growing banking, financial services and insurance (BFSI) sector and go-green initiatives, and growing demand for IOT and big data operations.
Market Scope
Base Year 2024
End Year 2028
Series Year 2024-2028
Growth Momentum Accelerate
YOY 2024 7.37%
CAGR 8.64%
Incremental Value $676.5 bn
Technavio's IT services market is segmented as below:
By End-user
Technology and telecommunication
BFSI
Travel and hospitality
Healthcare
Others
By Service
IT consulting services
Internet services and infrastructure
Data processing and outsources services
By Geographical Landscape
APAC
North America
Europe
South America
Middle East and Africa
This study identifies the emergence of cloud-based platforms as one of the prime reasons driving the it services market growth during the next few years. Also, surge in demand for managed services in IT sectors and integration of big data in information provider offerings will lead to sizable demand in the market.
The report on the it services market covers the following areas:
It Services Market sizing
It Services Market forecast
It Services Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading it services market vendors that include Accenture PLC, Amazon.com Inc., Avaya LLC, Broadcom Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., DXC Technology Co., Fortinet Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co, Huawei Technologies Co. Ltd., International Business Machines Corp., Infosys Ltd., Juniper Networks Inc., Larsen and Toubro Ltd., Microsoft Corp., Nokia Corp., Oracle Corp., and Tata Consultancy Services Ltd.. Also, the it services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Market Segmentation by Service
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ billion)
Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global IT Services Market 2018 - 2022
Historic Market Size - Data Table on Global IT Services Market 2018 - 2022 ($ billion)
4.2 End-user segment analysis 2018 - 2022
Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
4.3 Service segment analysis 2018 - 2022
Historic Market Size - Service Segment 2018 - 2022 ($ billion)
4.4 Geography segment analysis 2018 - 2022
Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country segment analysis 2018 - 2022
Historic Market Size - Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by End-user
6.1 Market segments
Chart on End-user - Market share 2023-2028 (%)
Data Table on End-user - Market share 2023-2028 (%)
6.2 Comparison by End-user
Chart on Comparison by End-user
Data Table on Comparison by End-user
6.3 Technology and telecommunication - Market size and forecast 2023-2028
Chart on Technology and telecommunication - Market size and forecast 2023-2028 ($ billion)
Data Table on Technology and telecommunication - Market size and forecast 2023-2028 ($ billion)
Chart on Technology and telecommunication - Year-over-year growth 2023-2028 (%)
Data Table on Technology and telecommunication - Year-over-year growth 2023-2028 (%)
6.4 BFSI - Market size and forecast 2023-2028
Chart on BFSI - Market size and forecast 2023-2028 ($ billion)
Data Table on BFSI - Market size and forecast 2023-2028 ($ billion)
Chart on BFSI - Year-over-year growth 2023-2028 (%)
Data Table on BFSI - Year-over-year growth 2023-2028 (%)
6.5 Travel and hospitality - Market size and forecast 2023-2028
Chart on Travel and hospitality - Market size and forecast 2023-2028 ($ billion)
Data Table on Travel and hospitality - Market size and forecast 2023-2028 ($ billion)
Chart on Travel and hospitality - Year-over-year growth 2023-2028 (%)
Data Table on Travel and hospitality - Year-over-year growth 2023-2028 (%)
6.6 Healthcare - Market size and forecast 2023-2028
Chart on Healthcare - Market size and forecast 2023-2028 ($ billion)
Data Table on Healthcare - Market size and forecast 2023-2028 ($ billion)
Chart on Healthcare - Year-over-year growth 2023-2028 (%)
Data Table on Healthcare - Year-over-year growth 2023-2028 (%)
6.7 Others - Market size and forecast 2023-2028
Chart on Others - Market size and forecast 2023-2028 ($ billion)
Data Table on Others - Market size and forecast 2023-2028 ($ billion)
Chart on Others - Year-over-year growth 2023-2028 (%)
Data Table on Others - Year-over-year growth 2023-2028 (%)
6.8 Market opportunity by End-user
Market opportunity by End-user ($ billion)
Data Table on Market opportunity by End-user ($ billion)
7 Market Segmentation by Service
7.1 Market segments
Chart on Service - Market share 2023-2028 (%)
Data Table on Service - Market share 2023-2028 (%)
7.2 Comparison by Service
Chart on Comparison by Service
Data Table on Comparison by Service
7.3 IT consulting services - Market size and forecast 2023-2028
Chart on IT consulting services - Market size and forecast 2023-2028 ($ billion)
Data Table on IT consulting services - Market size and forecast 2023-2028 ($ billion)
Chart on IT consulting services - Year-over-year growth 2023-2028 (%)
Data Table on IT consulting services - Year-over-year growth 2023-2028 (%)
7.4 Internet services and infrastructure - Market size and forecast 2023-2028
Chart on Internet services and infrastructure - Market size and forecast 2023-2028 ($ billion)
Data Table on Internet services and infrastructure - Market size and forecast 2023-2028 ($ billion)
Chart on Internet services and infrastructure - Year-over-year growth 2023-2028 (%)
Data Table on Internet services and infrastructure - Year-over-year growth 2023-2028 (%)
7.5 Data processing and outsources services - Market size and forecast 2023-2028
Chart on Data processing and outsources services - Market size and forecast 2023-2028 ($ billion)
Data Table on Data processing and outsources services - Market size and forecast 2023-2028 ($ billion)
Chart on Data processing and outsources services - Year-over-year growth 2023-2028 (%)
Data Table on Data processing and outsources services - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Service
Market opportunity by Service ($ billion)
Data Table on Market opportunity by Service ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Chart on Market share By Geographical Landscape 2023-2028 (%)
Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Chart on Geographic comparison
Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2023-2028
Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Chart on APAC - Year-over-year growth 2023-2028 (%)
Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.4 North America - Market size and forecast 2023-2028
Chart on North America - Market size and forecast 2023-2028 ($ billion)
Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Chart on North America - Year-over-year growth 2023-2028 (%)
Data Table on North America - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Chart on Europe - Year-over-year growth 2023-2028 (%)
Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Chart on South America - Market size and forecast 2023-2028 ($ billion)
Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Chart on South America - Year-over-year growth 2023-2028 (%)
Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Chart on US - Market size and forecast 2023-2028 ($ billion)
Data Table on US - Market size and forecast 2023-2028 ($ billion)
Chart on US - Year-over-year growth 2023-2028 (%)
Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Chart on China - Market size and forecast 2023-2028 ($ billion)
Data Table on China - Market size and forecast 2023-2028 ($ billion)
Chart on China - Year-over-year growth 2023-2028 (%)
Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 India - Market size and forecast 2023-2028
Chart on India - Market size and forecast 2023-2028 ($ billion)
Data Table on India - Market size and forecast 2023-2028 ($ billion)
Chart on India - Year-over-year growth 2023-2028 (%)
Data Table on India - Year-over-year growth 2023-2028 (%)
9.11 Japan - Market size and forecast 2023-2028
Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Chart on Japan - Year-over-year growth 2023-2028 (%)
Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.12 UK - Market size and forecast 2023-2028
Chart on UK - Market size and forecast 2023-2028 ($ billion)
Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Chart on UK - Year-over-year growth 2023-2028 (%)
Data Table on UK - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Market opportunity By Geographical Landscape ($ billion)
Data Tables on Market opportunity By Geographical Landscape ($ billion)
10 Drivers, Challenges, and Opportunity/Restraints
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Impact of drivers and challenges in 2023 and 2028
10.4 Market opportunities/restraints
11 Competitive Landscape
11.1 Overview
11.2 Competitive Landscape
Overview on criticality of inputs and factors of differentiation
11.3 Landscape disruption
Overview on factors of disruption
11.4 Industry risks
Impact of key risks on business
12 Competitive Analysis
12.1 Companies profiled
12.2 Market positioning of companies
Matrix on companies position and classification
12.3 Accenture Plc
Accenture Plc - Overview
Accenture Plc - Business segments
Accenture Plc - Key news
Accenture Plc - Key offerings
Accenture Plc - Segment focus
12.4 Amazon.com Inc.
Amazon.com Inc. - Overview
Amazon.com Inc. - Business segments
Amazon.com Inc. - Key news
Amazon.com Inc. - Key offerings
Amazon.com Inc. - Segment focus
12.5 Avaya LLC
Avaya LLC - Overview
Avaya LLC - Product / Service
Avaya LLC - Key news
Avaya LLC - Key offerings
12.6 Broadcom Inc.
Broadcom Inc. - Overview
Broadcom Inc. - Business segments
Broadcom Inc. - Key news
Broadcom Inc. - Key offerings
Broadcom Inc. - Segment focus
12.7 Cisco Systems Inc.
Cisco Systems Inc. - Overview
Cisco Systems Inc. - Business segments
Cisco Systems Inc. - Key news
Cisco Systems Inc. - Key offerings
Cisco Systems Inc. - Segment focus
12.8 Cognizant Technology Solutions Corp.
Cognizant Technology Solutions Corp. - Overview
Cognizant Technology Solutions Corp. - Business segments
Cognizant Technology Solutions Corp. - Key news
Cognizant Technology Solutions Corp. - Key offerings
Cognizant Technology Solutions Corp. - Segment focus
12.9 Dell Technologies Inc.
Dell Technologies Inc. - Overview
Dell Technologies Inc. - Business segments
Dell Technologies Inc. - Key news
Dell Technologies Inc. - Key offerings
Dell Technologies Inc. - Segment focus
12.10 DXC Technology Co.
DXC Technology Co. - Overview
DXC Technology Co. - Business segments
DXC Technology Co. - Key news
DXC Technology Co. - Key offerings
DXC Technology Co. - Segment focus
12.11 Fortinet Inc.
Fortinet Inc. - Overview
Fortinet Inc. - Product / Service
Fortinet Inc. - Key news
Fortinet Inc. - Key offerings
12.12 Hewlett Packard Enterprise Co
Hewlett Packard Enterprise Co - Overview
Hewlett Packard Enterprise Co - Business segments
Hewlett Packard Enterprise Co - Key news
Hewlett Packard Enterprise Co - Key offerings
Hewlett Packard Enterprise Co - Segment focus
12.13 Huawei Technologies Co. Ltd.
Huawei Technologies Co. Ltd. - Overview
Huawei Technologies Co. Ltd. - Product / Service
Huawei Technologies Co. Ltd. - Key news
Huawei Technologies Co. Ltd. - Key offerings
12.14 International Business Machines Corp.
International Business Machines Corp. - Overview
International Business Machines Corp. - Business segments
International Business Machines Corp. - Key news
International Business Machines Corp. - Key offerings
International Business Machines Corp. - Segment focus
12.15 Juniper Networks Inc.
Juniper Networks Inc. - Overview
Juniper Networks Inc. - Product / Service
Juniper Networks Inc. - Key news
Juniper Networks Inc. - Key offerings
12.16 Microsoft Corp.
Microsoft Corp. - Overview
Microsoft Corp. - Business segments
Microsoft Corp. - Key news
Microsoft Corp. - Key offerings
Microsoft Corp. - Segment focus
12.17 Oracle Corp.
Oracle Corp. - Overview
Oracle Corp. - Business segments
Oracle Corp. - Key news
Oracle Corp. - Key offerings
Oracle Corp. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Inclusions checklist
Exclusions checklist
13.3 Currency conversion rates for US$
Currency conversion rates for US$
13.4 Research methodology
13.5 Data procurement
13.6 Data validation
13.7 Validation techniques employed for market sizing
Validation techniques employed for market sizing
13.8 Data synthesis
13.9 360 degree market analysis
360 degree market analysis
13.10 List of abbreviations