The global IT professional services market size is expected to reach USD 1,598.41.13 billion by 2030, registering a CAGR of 9.5% from 2024 to 2030, according to a recent report by Grand View Research, Inc. The market growth can be attributed to the technology shift by Small & Medium Enterprises (SMEs) to enhance their IT infrastructure, growing adoption of cloud computing, and increasing usage of advanced technologies such as machine learning, artificial intelligence, and Robotic process automation (RPA). Market players are assisting various organizations in automating their business operations with these technologies. Furthermore, big data analytics technology combined with the Internet of Things (IoT) increases the overall productivity of IT professional services, contributing to the growth of the IT professional services market.
The growing adoption of cloud-based platforms across the globe is expected to drive the IT professional services market. Established industry players are highly emphasizing strategic partnerships with software companies to accelerate business migration to hybrid cloud architecture. For instance, in January 2024, Google Cloud announced that they had introduced generative AI technologies for retailers and online shopping websites. The company is also offering a combined software and hardware offering namely “Google Distributed Cloud Edge” which will help retailers to manage, deploy and scale AI innovations across locations. These developments would further drive the growth of the IT professional services market during the forecast period.
Rapid advancements in advanced technologies, as well as the growing popularity of IT professional solutions are encouraging a variety of businesses to enter the IT professional services market to expand their business. Startups in the IT professional services market place a high value on participation in funding rounds in order to raise funds and strengthen their brand presence. For instance, Venn Technology Corp., a remote work security company, raised USD 29 million in a financing round led by NewSpring Capital Inc. in April 2022. The funds will be used to expand the company's service offerings, support product development and business operations in untapped global markets.
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The ITO service segment is anticipated to grow at a CAGR of 10.3% from 2024-2030. Large organizations are increasingly turning to IT support and training services to familiarize their employees with the latest technologies and reduce training time by utilizing a single platform throughout the organization. In addition, other businesses are outsourcing IT services for regular updates and maintenance of their IT systems
The cloud segment is anticipated to grow at a CAGR of 10.1% from 2024-2030. Shifting organizations focus toward developing a single unified digital platform to handle holistic data operations with the minimum hardware requirement is creating a favorable environment for cloud integration solutions
The SMEs segment is anticipated to grow at a CAGR of 11.6% from 2024–2030. Small & medium-sized enterprises are using IT professional services and solutions for process time management, automating various tasks to allow employees to focus on other important works and control over unnecessary spending of the company, thereby contributing to the IT professional services market size expansion
The technology companies’ segment is anticipated to grow at a CAGR of 9.9% from 2024–2030. The high demand for automation, business intelligence, and Technology as a Service (TaaS) is prompting the growth of the segment
Asia Pacific is anticipated to grow at a CAGR of 11.5% from 2024-2030. The rapid increase in the number of Small & Medium Enterprises (SMEs) and startups across the region are focusing on implementing new-generation technologies and services to sustain in the market. Also, economies such as China and India are the hub for IT companies which drives the growth even further
Grand View Research has segmented the global IT professional services market based on type, deployment, enterprise size, end-use, and region:
IT Professional Services Type Outlook (Revenue, USD Billion, 2018 - 2030)
IT Support & Training Services
Enterprise Cloud Computing Services
IT Professional Services Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
IT Professional Services Enterprise-size Outlook (Revenue, USD Billion, 2018 - 2030)
Small & Medium-sized Enterprises (SMEs)
IT Professional Services End-Use Outlook (Revenue, USD Billion, 2018 - 2030)
Marketing & Communication Companies
IT Professional Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
List of Key Players of IT professional services market
Amazon Web Services
Atera Networks Ltd.
DXC Technology Company
Hewlett Packard Enterprise Development LP
International Business Machines Corporation
ScienceSoft USA Corporation
Veritis Group Inc.
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