Market Research Report
IT Services - Market Summary, Competitive Analysis and Forecast, 2017-2026
|IT Services - Market Summary, Competitive Analysis and Forecast, 2017-2026|
Published: March 17, 2022
Content info: 335 Pages
Delivery time: 1-2 business days
Global IT Services industry profile provides top-line qualitative and quantitative summary information including: industry size (value 2017-21, and forecast to 2026). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry.
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 2021 annual average exchange rates.
The global IT services industry had total revenues of $1,234.0bn in 2021, representing a compound annual growth rate (CAGR) of 10.4% between 2016 and 2021.
The infrastructure services segment was the industry's most lucrative in 2021, with total revenues of $764.8bn, equivalent to 62% of the industry's overall value.
Growth in the market has been driven by increased adoption of digital IT services along with the increased prevalence of IT infrastructure in the region.