Global IT services market sizeIT 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 leadersThe 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.