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    IT Services Market Report

    IT Services Market Report
    Report code - SRCG212 Delivery - 2 Weeks
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    IT Services Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-2026 See more...

    Impact of COVID-19 on IT Services Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on IT Services Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    IT Services Market Insights

    IT services market is likely to witness an impressive CAGR of 8.2% during the forecast period. The growing demand for IT services is mainly due applicability of services in different industries and increasing adaptability of digitalization in various developing countries and increasing usage in small & medium enterprises.

    IT Services Market - Snapshot

    Growth

    8.2% for the next five years

    Major Service Type

    Managed Services

    Major Development Type

    Cloud

    Major Size Type

    Large Enterprises

    Dominant End Use Industry Type

    BFSI

    Region with the highest demand

    North America

    Key Players

    Cisco Systems Inc., Citrix Systems Inc., Dell EMC, Fujitsu Ltd.,

    Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation,

    TCS Limited, Toshiba Corporation, and Verizon Communications Inc.

     

    Market Share Analysis

    IT-Services-Market-Dominant-Segments

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    IT Services Market Share: By Development Type

    Based on the development type, the market is segmented as cloud and on-premise. The cloud services segment is expected to remain dominant as well as fastest-growing during the forecast period owing to advancement in the IT sector and consumer preference of cloud computing due to its various benefits such as remote access optimization, operational efficiency, and business opportunity discovery.

    IT Services Market Share: By End-Use Industry Type

    Based on the end-use industry type, the IT services market is segmented as BFSI, telecommunication, healthcare, retail, manufacturing, government, and others. The BFSI (Banking, financial services and insurance) segment leads the market owing to wide networking and central control units of various financial institutions. These institutions require huge data handling and real time support, and the IT services provide best solutions to them.

    IT Services Market Share: By Region

    In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for IT services during the forecast period, with the USA being the major country offering lucrative growth opportunities. The region’s growth is owing to the presence of a large number of IT service providers in country. The USA is considered to be the IT and software hub of the world. The IT services market of North America is mainly driven by huge IT budgets of governments. Europe and Asia-Pacific also offer substantial growth opportunities during the forecast period.

    IT-Services-Market-By-Region

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    Some of the major players in the IT services market are-

    • Cisco Systems Inc.
    • Citrix Systems Inc.
    • Dell EMC
    • Fujitsu Ltd.
    • Hewlett Packard Enterprise
    • IBM Corporation
    • Microsoft Corporation
    • TCS Limited
    • Toshiba Corporation
    • Verizon Communications Inc.

     

    Market Scope & Segmentation

    IT administrations refers to the use of business and technical expertise to empower organization in the creation, management and advancement of or access to data and business processes.

    IT services are used in different industries such as Banking, financial services and insurance, Telecommunication, Healthcare, Retail, Manufacturing, Government, and many more.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    IT Services Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The IT services market is segmented into the following categories. 

    IT Services Market Size, Share, & Forecast, by Service Type:

    • Managed Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Project Oriented Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Support Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    IT Services Market Size, Share, & Forecast, by Development Type:

    • Cloud (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • On-premise (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    IT Services Market Size, Share, & Forecast, by Size Type:

    • Small & Medium Enterprises (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Large Enterprises (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    IT Services Market Size, Share, & Forecast, by End-Use Industry Type:

    • BFSI (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Telecommunication (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Healthcare (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Retail (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Government (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    IT Services Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    IT-Services-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the service types by end-use industry type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The IT services market is expected to witness an impressive growth of 8.2% CAGR in the foreseeable future.

    Cisco Systems Inc., Citrix Systems Inc., Dell EMC, Fujitsu Ltd., Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, TCS Limited, Toshiba Corporation, and Verizon Communications Inc. are among the key players in the IT services market.

    North America is expected to be the largest IT services market during the next five years.

    The cloud service segment is expected to remain dominant in the IT services market in the coming years.

    •