IT Support Services

Global IT Professional Services to Witness Significant Growth

According to a new study conducted by Grand View Research, Inc, Global IT professional services market size is expected to reach USD 1.07 trillion by 2025 with a CAGR of 8.4%. Growth in demand for knowledge-based services and preference for flexible and customizable professional IT services are the factors that contribute to the growth.

IT services refers to the activities involved in designing, creating, delivering, supporting and managing IT services. The various services that come under IT services includes System Integration, Cloud Computing Service, IT Consulting, System Support, etc. It finds application in varied sectors such as Enterprise, Financial, Government, Healthcare Medical, and Others.

The adoption of IT professional services has been growing significantly. This is mainly due to fact that it can help in many ways including reducing the overall IT costs, and in turn, the capital expenditure. Benefits associated with these services are ease of deployment, lesser risk, and higher security, have also been aiding the market growth. Many businesses are utilizing the cloud based technology, which allows provider to expand their geographic reach and offer scalable services, as well as on-demand support. Some of the key functionalities being outsourced to reduce the administrative costs and overheads digitization, big data analytics, and Business Intelligence (BI).

Key Findings of The Study:

  • The market is significantly diverse and fragmented. The market is led by leading companies such as Accenture PLC, Capgemini SA, IBM Corp., and Microsoft Corporation.
  • The customers’ buying decisions will be the main factor that contribute the ability of the vendors to provide cloud-based, tailored, and secured solutions.
  • The cloud segment is expected to see a significant growth over the forecast period.
  • Largest adopters of IT professional service have emerged as Technology and consulting companies.
  • The North America regional market led the global IT professional service market in 2017 and is expected to register a CAGR of 7.5% over the forecast period.
  • However, Asia Pacific is anticipated to be the fastest-growing regional market with a CAGR of 9.6% during the forecast period.

The report provides an in-depth knowledge of the global IT professional services market scenario on the basis of type, deployment, end use, and region.