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.
Global IT services market size
IT services is part of the broader information technology market ecompassing communcation services, devices, enterprise software, and data center systems next to IT services. This overall IT market is forecast to grow to more than four trillion U.S. dollars in annual value over the next few years. Global IT services spending alone crossed the trillion dollar mark for the first time in 2019. The Americas region is the currently the largest market for IT services and business services overall.
IT services segments and leaders
The broader market for IT services is made up of several segments including outsourcing, managed services, security services, data management, and cloud computing.
The strongest growing segment is cloud computing, with the overall global cloud services spendings topping 250 billion U.S. dollars in 2019. The cloud market is made up of three categories: Infrastructure as a Service (SaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Another distinction is made between public cloud and private cloud services.
IBM is one of the world’s leading information technology professional and managed service providers woridwide. Some of the other leading information technology professional and managed service providers include Accenture, DXC, Fujitsu, AWS, and TCS. Most of these companies also can be found at the top of an IT services companies brand value ranking.
Preliminary - Impact of Coronavirus pandemic on IT services
Despite the many challenges enterprises and IT service providers are currently facing due to the ongoing coronavirus pandemic, many companies expect IT budgets overall to stay the same. Spending on IT services is not forecast to decline as much as spending in other IT segments such as mobile devices. The impact of the coronoavirus might even lead to increased spending on cyber security and cloud computing in the future.
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In the following 8 chapters, you will quickly find the 49 most important statistics relating to "IT services".