Worldwide IT Services Industry to 2026 - Growing Emphasis on Leveraging the Core Competencies by Outsourcing Non-core Operations is Driving the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "IT Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

IT Services Market is expected to register a CAGR of about 8.87 % during the forecast period (2019-2026).

Enterprises are opting for IT services across multiple industry verticals owing to manifold benefits, such as accurate forecasting through business intelligence, thereby helping to optimize the business operations, minimizing the wastage, and increasing the organizational revenues.

Companies Mentioned

• Citrix Systems Inc
• Cisco Systems Inc
• Dell EMC
• IBM Corporation
• Hewlett Packard Enterprise
• Microsoft Corporation
• TCS Limited
• Toshiba Corporation
• Verizon Communications Inc.
• Fujitsu Ltd

Key Market Trends

Cloud Services is Gaining Traction Due to Emergence of Cloud-Based Platform

• There had been a significant breakthrough in cloud computing over the past few years, as cloud solutions offer various advantages but expose data hosted to substantial risks, including privacy, identity theft, among others. Organizations adopting cloud computing should consider implementing IT services that can analyze all executions, applications, and network connections.
• Due to advancements in the IT operation across the cloud-based platform, IT services has become more data-driven as well as real-time, creating greater value for the business, especially in the areas of operational efficiency, business opportunity discovery, and remote access optimization.
• As the demand for cloud services is expected to grow over the next few years, with immense demand form the IT & Telecommunication industry across the ever-growing corporate sector, the scope for the IT infrastructure services from these end-users are expected to grow rapidly.

North America to Register with Largest Growth During the Forecast Period

• North America is the largest growing IT services market due to the presence of robust IT infrastructure. According to 2019 State of IT survey by the IT company Spiceworks, 89% of the organizations across North America expect their IT budgets to grow by the end of 2019. This may lead to an increased amount of fragmented data being generated, thereby fueling the market demand during the forecast period.
• IT companies over the region are increasingly focusing on providing services, such as application monitoring and IT services monitoring through the cloud, and shifting from on-premise, thereby developing new cloud frameworks in the region, which may further boost the market growth.
• Also, a high degree of automation and immense penetration of IT applications across several end-user industries creates a constant demand for IT services in the region.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Force Analysis

4.2.1 Threat of New Entrants

4.2.2 Bargaining Power of Buyers/Consumers

4.2.3 Bargaining Power of Suppliers

4.2.4 Threat of Substitute Products

4.2.5 Intensity of Competitive Rivalry

4.3 Impact of COVID-19 on the market

4.4 Market Drivers

4.4.1 Growing Emphasis on Leveraging the Core Competencies by Outsourcing Non-core Operations

4.4.2 Greater Access to a Larger Pool of Talent and Scope for Innovation (as Opposed to Onboarding Expertise)

4.5 Market Challenges

4.5.1 Operational Challenge (such as Perceived Loss of Control and Identification of Key Goals)

5 MARKET SEGMENTATION

5.1 Type

5.1.1 Managed Services

5.1.2 Project Oriented Services

5.1.3 Support Services

5.2 Deployment

5.2.1 Cloud

5.2.2 On-premise

5.3 Size

5.3.1 Small and Medium Enterprises

5.3.2 Large Enterprises

5.4 End User Industry

5.4.1 BFSI

5.4.2 Telecommunication

5.4.3 Healthcare

5.4.4 Retail

5.4.5 Manufacturing

5.4.6 Government

5.4.7 Other End-user Industries

5.5 Geography

5.5.1 North America

5.5.1.1 United States

5.5.1.2 Canada

5.5.2 Europe

5.5.2.1 Germany

5.5.2.2 United Kingdom

5.5.2.3 France

5.5.2.4 Rest of Europe

5.5.3 Asia Pacific

5.5.3.1 China

5.5.3.2 Japan

5.5.3.3 India

5.5.3.4 South Korea

5.5.3.5 Rest of Asia Pacific

5.5.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 COMPANY PROFILES*

6.1.1 Citrix Systems Inc

6.1.2 Cisco Systems Inc

6.1.3 Dell EMC

6.1.4 IBM Corporation

6.1.5 Hewlett Packard Enterprise

6.1.6 Microsoft Corporation

6.1.7 TCS Limited

6.1.8 Toshiba Corporation

6.1.9 Verizon Communications Inc.

6.1.10 Fujitsu Ltd

7 RELATIVE POSITIONING OF KEY VENDORS

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/9qaoki