By 2018, global IT services spending is projected to reach around 987 billion dollars, with North America retaining its position as the largest region for both IT services spending and IT services revenue worldwide. According to one source, a majority of IT services are delivered as bundled services, with specific services comprising a much smaller share of the market.
The managed services market is forecast to eclipse 170 billion U.S. dollars worldwide by 2019, while security services are projected to grow at a similarly rapid rate to around 124 billion U.S. dollars in the same time period. Estimations suggest that worldwide revenues in the Security as a Service (SECaaS) market will more than double between 2018 and 2022, rising from under 6 billion dollars to just over 12 billion. Similarly rapid growth can be seen in cloud-based services, which have recently become a major segment in the IT industry. Market revenue for cloud computing services is expected to reach 240 billion dollars by 2020.
IBM is one of the world’s leading information technology professional and managed service provider, controlling 6 percent of the IT services market in 2017. Some of the other leading information technology professional and managed service providers include Accenture, DXC, Fujitsu and TCS.