The global IT services market reached a value of nearly $2,230 billion in 2018. Western Europe is the largest market for IT services market. The China is the largest country in terms of value in the IT Services market.
IT services providers apply technical expertise and knowledge to enable organizations and individual users to create, manage and optimize their IT processes. The information technology services industry breaks down into software and BPO services, hardware support services and cloud services.
Request For The Global IT Services Market Report At:
https://www.thebusinessresearchcompany.com/report/IT Services-market
IT Services Market Size
The IT Services market is expected to grow at an annual growth rate of around 11% to nearly $3,496 billion by 2022.
Growth in the historic period resulted from strong economic growth in emerging markets, technology development, B2B & B2C mobility, high valuations of information technology companies. Going forward, faster economic growth, increasing investments in smart cities, increase in outsourcing and Internet of Things (IoT) will drive growth. Factors that negatively affected growth in the historic period were multinational operations difficulties and high R&D expenditure. Factors that could hinder the growth of this market in the future are rise in interest rates and infrastructural barriers.
The global market for IT services is fragmented. Major players in the market are Microsoft, CISCO, Fujitsu Ltd., International Business Machines Corporation and Qualcomm.
Microsoft was the largest competitor in the IT Services market in 2018. Microsoft Corporation is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services.
Request For A Free Sample Of The Global IT Services Market Report At:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2357&type=smp
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company
Media Contact
Company Name: The Business Research Company
Contact Person: Nitin
Email: Send Email
Phone: 08897263534
Address:1st Floor, Anshu Colors Building, Road Number 1 Park View Enclave, Jubilee Hills, Hyderabad (India), 500033.
City: Hyderabad
State: Telengana
Country: India
Website: https://www.thebusinessresearchcompany.com/report/it-services-market