IT Professional Services Market Size, Share, & Trends Report

IT Professional Services Market Size, Share, & Trends Analysis Report By Type, By Deployment (On-premise, Cloud), By End Use, By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-762-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 109

Industry Insights

The global IT professional services market size was valued at USD 562.06 billion in 2017 and is expected to reach USD 1,070.28 billion by 2025, growing at a CAGR of 8.4% from 2018 to 2025. IT professional services offer an integration of services such as project-oriented services, ITO services, IT support and training services, and enterprise cloud computing services into business operations. Enterprises are opting for IT professional services irrespective of the industry vertical they belong to owing to manifold benefits, such as accurate forecasting and Business Intelligence (BI), help in optimizing the business operations, minimizing the wastage, and increasing the organizational revenues. Business analytics services also help enterprises and organizations in identifying business growth opportunities and determining areas for cost saving.

The convenience and ease of use associated with the cloud deployment are prompting organizations to shift their data to cloud-based platforms. Enterprises are particularly opting for big data analytics to manage the business data and understand the risks, and subsequently map their business strategies accordingly in order to augment their returns. Having realized that cloud deployment can benefit in terms of accessibility, efficiency, immediacy, scalability, and optimization, enterprises are opting for cloud-based IT professional services to manage their business operations.

U.S. IT professional services market

The high demand for IT professional services in technology, marketing, consulting, and communication companies have led to an increase in their adoption. The companies adopt these services with an aim to shift their business applications on the public cloud. These services are rapidly integrating and modernizing with cloud-based applications to offer numerous benefits to support business agility by modernizing IT infrastructure and applications.

Professional services offer organizations an affordable route to focus on prevention of the data theft and improving cyber security. They provide analytic capabilities and a foundation for managing the business information. Key benefits offered by professional services include increased utilization of resources, reduced administrative expenses, and increased profitability, among others.

Organizations primarily focus on factors such as improving the quality of work, enhancing the speed of delivery, reducing cost of work, and increasing transparency and accountability. However, they find it challenging to fulfill customer demands quickly. In an attempt to accelerate service delivery, companies opt for professional business process services.

Type Insights

On the basis of type, the market has been further segmented into project-oriented services, ITO service, IT support & training service and enterprise cloud computing services. The project-oriented services segment, which dominated the market in 2017 owing to the adoption of project management services among small & medium enterprise. These services are often customized to meet the individual client needs, helping them optimize operational efficiency and deliver projects on time and within an allocated budget.

Meanwhile, the IT outsourcing (ITO) service is gradually gaining importance owing to the to various advantages such as controlled IT cost, reduced labor cost, increased efficiency & competitiveness, easy deployment of technology, reduced risk, and high security. Enterprises opt for IT outsourcing services as part of the efforts to cut costs and focus on core tasks. Upcoming market trends coupled with the opportunities associated with new business models and cloud computing are driving the growth of the IT infrastructure outsourcing services market.

Deployment Insights

Based on the deployment, the market has been further segmented into on-premise and cloud. Enterprises opting for on-premise deployment have a better control of the IT infrastructure as well as the flexibility to customize the IT infrastructure whenever required. On-premise deployment also helps in reducing the dependency on the internet and protecting the data from potential losses and frauds. Such benefits are expected to encourage the enterprises to opt for on-premise deployment.

The cloud based IT professional services is expected to grow over the forecast period as cloud deployment can benefit enterprises by providing them with operational flexibility, agility, and efficient storage management. On the other hand, cloud-based services, such as IaaS and SaaS, can also facilitate on-demand remote access and ensure a higher degree of stability.

End Use Insights

On the basis of end use, the market has been further segmented into technology companies, consulting companies, marketing & communication companies, and others. Technology companies segment, which dominated the market in 2017 as various technological companies are focusing on the development of Technology as a Service (TaaS) and are opting for IT professional services as part of their efforts to support their business operations as the technology continues to evolve.

Europe IT professional services market

Numerous marketing and communication companies integrate cloud-based services into their operations owing to their high data storage capabilities. Many companies are moving communications to cloud owing to various benefits it offers such as scalability, quality of service, and affordable redundancy, among others.

Regional Insights

North America happens to be the leading regional market for IT professional services owing to the high adoption of ERP, CRM and cloud services for the data management. Moreover, presence of large service providers in U.S. such as Oracle Corporation, Microsoft Corporation, and DXC Technology Companies are furture boosting the market in North America region.

The demand for knowledge-based services is witnessing an exponential growth in Asia Pacific countries. The increasing demand for IT professional services in legal & advisory and accounting service industries are expected to boost the growth of the Asia Pacific market over the forecast period. Growing economies in the Asia Pacific region are also expected to unfold numerous opportunities for the IT professional service market.

IT Professional Services Market Share Insights

Key industry players operating in the market include Accenture PLC, Autotask Corporation, Capgemini SA, DXC Technology Company, Fujitsu Limited, Hewlett Packard Enterprise Development LP (H.P.E.), International Business Machines (IBM) Corporation, Microsoft Corporation, and Oracle Corporation. In addition, the major key strategies include collaborations, related segment revenues, new product developments, expansion capabilities, mergers & acquisitions, partnerships & agreements, and research & development investments, among others

In September 2018, IBM introduced Watson solutions & services for a variety of professions and industries such as manufacturing, human resources, automotive, and marketing, among others. The software services offer transparency into AI decisions. Moreover, In February 2015, Accenture entered into an agreement to acquire Gapso for expanding its analytics capabilities in Brazil, primarily for companies dealing with natural resources and agribusiness sectors.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 to 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Billion & CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country scope

U.S., Canada, U.K., Germany, India, Japan, China, and Brazil

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2025. For the purpose of this study, Grand View Research has segmented the global IT professional services market based on type, service, end use, and region:

  • IT Professional Services Type Outlook (Revenue, USD Billion; 2014 - 2025)

    • Project-oriented Services

    • ITO Services

    • IT Support and Training Services

    • Enterprise Cloud Computing Services

  • IT Professional Services Deployment Outlook (Revenue, USD Billion; 2014 - 2025)

    • On-premise

    • Cloud

  • IT Professional Services End Use Outlook (Revenue, USD Billion; 2014 - 2025)

    • Technology Companies

    • Consulting Companies

    • Marketing & Communication Companies

    • Others

  • IT Professional Services Regional Outlook (Revenue, USD Billion; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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