LONDON--(BUSINESS WIRE)--The latest Technavio report on the global IT consulting services market provides an analysis of the key trends expected to impact the market’s outlook through 2020. Technavio’s category spend intelligence researchers define an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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The top five emerging trends driving the global IT consulting services are as a follows:
- Adoption of environment-friendly technology
- Growing preference for remote working environments
- Increase in service offshoring
- Increase in market consolidation
- Rise in use of cloud-based IT infrastructure
Adoption of environment-friendly technology
In the fast-changing technological environment, hardware needs to be upgraded every few years. This is prompting suppliers to adopt greener models in a bid to reduce wastage and pollution, and enhance recyclability.
According to Angad Singh, a category specialist at Technavio, “Organizations are increasing focusing on reducing their carbon footprints to gain acceptance from governments and clients. Also, adopting environment-friendly technology saves resources in the long run.”
Growing preference for remote working environments
Remote working environments eliminates travel time and effort and facilitates wider collaboration. As a result, organizations are increasingly adopting remote working environments. Around 60% of employees in North America prefer to work remotely.
Increase in service offshoring
Organizations are expanding their operations to emerging markets such as India, China, Vietnam, and the Philippines. This is driving the demand for IT consultants that can effectively integrate the IT systems located in these countries with the organizational facilities in other regions. This way, organizations can save on costs as they can hire skilled labor at a much lower costs. It also helps integrate IT systems across the globe.
Increase in market consolidation
Companies with revenues of less than USD 1 billion are resorting to consolidation to overcome growth challenges. In 2015, mergers and acquisitions of technology were valued at USD 459.6 billion, 11% higher than the previous record of 2000 (20 deals topped USD 1 billion, while three topped USD 10 billion). These consolidations are expected to have a significant impact on the IT consulting services industry, as they enable the integration of IT systems and infrastructure across platforms.
Rise in use of cloud-based IT infrastructure
Organizations have been consistently shifting to cloud-based IT infrastructure such as SaaS models over the past five years, as these models are cost-effective and provide easy access to data across geographies.
IT consultants help buyers migrate to new cloud-based technologies and also ensure effective integration of these technologies with existing legacy systems. They also use clouds as tools to centralize and organize businesses of clients, which, in turn, helps them in effectively managing projects and resources.
Top five suppliers in the global IT consulting services market:
- Hewlett Packard
- CGI Group
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