The IT Services Global Market Report 2023 by The Business Research Company, provides IT services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s IT Services Global Market Report 2023, the global IT services market size grew from $3319.3 billion in 2022 to $3605.24 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The IT services market is expected to grow to $4910.44 billion in 2027 at a CAGR of 8.0%.
Companies across all industries are increasingly outsourcing their computer facilities management and data recovery operations. IT departments spend on outsourcing raised from 12.7% in 2019 to 13.6% in 2020. This trend is expected to be particularly prevalent in emerging markets, given their generally lower current penetration rates. Therefore, rise in outsourcing services is expected to drive the IT services market during the forecast period.
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The IT services market is segmented:
1) By Type: Hardware Support Services, Software And BPO Services, Cloud Services
2) By Organisation Size: Large Enterprises, Small And Medium Enterprises
3) By End-User Industry: Financial Services, Retail & Wholesale, Manufacturing, Healthcare, Other End User Industries
4) By Service Provider Location: North America, Asia-Pacific, Western Europe, Eastern Europe, Rest of the World
Subsegments Covered: Computer And Peripherals Support Services, Storage And Servers Support Services, Networking Support Services, Other Hardware Support Services, BPO Services, Software Services, Software as a service (SaaS), Platform as a service (PaaS), Infrastructure as a service (IaaS), Business Process as a service (BPaaS).
Data analytics is increasingly being used across all industries to find key information from raw data for better decision-making. Data analytics examines large amounts of data to identify correlations and hidden patterns that may directly or indirectly affect business. Major companies across different industries are using data analytics tools. Data analytics tools are specific to the industry, and custom computer programming companies are offering customized data analytics tools based on the functioning and demands of their clients. For example, the city of Toulouse in France is using IBM’s social media analytics platform to identify and prioritize citizens’ issues.
The IT services market report table of contents includes:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
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25. Key Mergers And Acquisitions
26. Market Background: Information Technology Market Characteristics
27. Opportunities And Strategies
28. IT Services Market, Conclusions And Recommendations
29. Appendix
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