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IT services - Statistics & Facts

Information technology (IT) services are used by organizations when creating, managing, and delivering information, as well as assisting with other business functions. These services include consulting, software development, and systems integration. There are also more “hands-on” tasks, such as hardware deployment and support, training and education, and hosted and outsourced IT services. Overall, IT services enable businesses to do their operations more efficiently.

Global IT services market size

IT services form part of the broader IT market, encompassing services, devices, enterprise software, and data center systems. In 2019, global IT services spending surpassed one trillion U.S. dollars for the first time. Spending slightly decreased in 2020 and gained momentum once again in 2021 due to a boost from the enterprise digitalization process. In terms of regional IT services spending, North America and Asia accounted for 67 percent of the global IT expenditure in 2021. By contrast, IT services spending in Latin America has maintained a constant six percent share since 2019.

IT services segments and providers

The broader market for IT services is made up of several segments, including outsourcing, managed services, security services, data management, and cloud computing. Cloud computing is a strongly growing segment, with end-user spending expected to reach nearly 500 billion U.S. dollars in 2022. Accordingly, enterprise spending on cloud infrastructure services amounted to 178 billion U. S. dollars in 2021, registering an increase of 37 percent compared to the previous year. Among the most prominent cloud providers are Amazon Web Services, Microsoft Azure, and Google Cloud, as well as Alibaba Cloud.
The global managed services market is also off for a more than promising development in the upcoming years. Simply put, it refers to the outsourcing of computing and IT-related processes, such as cloud computing or managed IT security. With managed service providers (MSPs) like IBM, Accenture, or Capgemini, the market is expected to exceed 300 billion U.S. dollars in 2027.

IT services industry outlook

In general, the IT services industry is shaped by a plethora of technologies and infrastructure strategies that complement each other. Among these are cloud strategies, the integration of technologies such as artificial intelligence (AI) and machine learning (ML) in business solutions, as well as a heightened demand for IT security approaches such as zero trust frameworks. Next to these developments, the IT industry is looking to fill knowledge gaps in the future. In 2022, approximately 25 percent of recruiters in Europe were willing to remove the CV from their recruitment process. Accordingly, companies also began lowering the importance of university degree requirements when applying for IT-related jobs, to the advantage of IT certifications.

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