Statistics and Market Data on IT Services
Information technology services are those services used by organizations in creating, managing, and delivering information as well as assisting with other business functions. These services include consulting, software development, systems integration, in addition to more “hands-on” tasks such as hardware deployment and support, training and education, and hosted and outsourced IT services. According to Statista's IT Market Model
, spending in the global IT services market
is expected to reach 846 billion dollar mark by 2021, up from 737 billion U.S. dollars in 2017. North America is the largest regional IT services market
, accounting for almost half of the global market. Leading vendors
in the industry include IBM, Accenture, Microsoft, Amazon and Fujitsu, all of which generate multi-billion dollar revenue figures on a yearly basis.
A vital segment of the IT services market is cloud computing. Cloud computing is essentially services or software that are offered purely online via network-based distribution channels. While the providers of cloud services do have servers, hardware and staff sitting in an actual location, the services they offer can be accessed and utilized entirely online from anywhere, without the need for users to install any software or hardware. Examples of cloud services that are extensively used around the world include Gmail/online email, Spotify and even Facebook. Statista forecasted that the global revenue from cloud computing services would boom into the next few years, reaching a total amount of 172 billion U.S. dollars by 2021.
Also a major segment of the IT services industry is the IT outsourcing market, which is the use of service providers for delivering IT-reliant business processes, application services, and infrastructure solutions. Statista's IT Market Model divided the IT outsourcing industry into four sub-segments: professional payment services, IT-infrastructure outsourcing, IT-application outsourcing, and IT-administration outsourcing. The overall IT-outsourcing market had a size of 375 billion U.S. dollars in 2017 and is forecasted to reach 413 billion by 2021.