IT services market size to grow by $402.79 bn from 2022 to 2027

he IT services market size is set to grow by USD 402.79 billion between 2022 and 2027 and register a CAGR of 5.57%, according to Technavio.

Factors such as the growing adoption of edge data centers, the need to adhere to regulatory guidelines and ensure compliance, and the growing demand for IoT and big data operations will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The IT services market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Some of the major vendors of the It services market in data processing and outsourced Services
industry include Accenture Plc, Cognizant Technology Solutions Corp., Dell Technologies Inc., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., LTIMindtree Ltd., Microsoft Corp., Nokia Corp., Oracle Corp., Tata Consultancy Services Ltd., Tech Mahindra Ltd., Telefonaktiebolaget LM Ericsson, Toshiba Corp., Wipro Ltd., and Zunesis Inc.

To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the IT services market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support. Technavio