Global IT Services Market 2016-2020
About Information Technology (IT) Services
IT services help organizations to install IT infrastructure, which includes services such as support services, system integration services, application development and other IT related services. These services focus on providing a framework to structure IT-related activities. A wide range of IT services are now available with which organizations can streamline their processes and integrate their systems. These services help organizations reinvent, develop a more economical cost structure, and centralize their processes. IT services enable organization to align their business strategy with IT strategy to remain competitive in the market with enhanced efficiency and flexibility in their IT environment.
Technavio’s analysts forecast the global information technology (IT) services market to grow at a CAGR of 5.6% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global information technology (IT) services market 2016-2020. To calculate the market size, the report considers the revenue generated from project-oriented services, information technology outsourcing (ITO) services, IT support and training services, and enterprise cloud computing services.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Information Technology (IT) Services Market 2016-2020
Technavio recognizes the following companies as the key players in the global information technology (IT) services market: Accenture, CSC, HP, Fujitsu, and IBM.
Other Prominent Vendors in the market are: Alcatel-Lucent, AWS, Atos, Capgemini, Cisco Systems, Dell, Deloitte, Ericsson, EY, HCL Technologies, Hitachi, Infosys, KPMG, Microsoft, NTT Data, Oracle, PwC, Siemens, and TCS.
Commenting on the report, an analyst from Technavio’s team said: “One trend spurring growth is the emergence of cloud computing services. The introduction of cloud computing has enhanced and simplified IT management and maintenance capabilities. It provides a central administration and control for all resources, SLA-backed agreements, and vendor managed infrastructure. Cloud computing eliminates the need for users to update and maintain IT infrastructure. All services and maintenance are taken care by the service provider. The user need not install any additional software for accessing applications and services. SLA ensures reliable delivery, management, and maintenance of IT services.”
According to the report, the need to focus on core competencies and improve efficiency will lead to the growth of this market. Firms implement IT services, such as managed services and ITO services, to focus on their core business process and outsource IT functions to improve operational efficiencies. Companies outsource IT-related requirements, such as application and infrastructure management to ITO service provider. This supports companies to achieve their vision and mission by putting their resources and people skills into their core business. It also helps to improve companies' operational efficiency as firms do not need to invest in resources or concern about managing limited available resources.
Further, the report states that data privacy and security risk in cloud-based services will be a major challenge for this market. Data privacy and security risks are one of the major barriers to the adoption of cloud services in organizations, especially in the public cloud. Cloud security management is a challenging task for vendors to protect online data. Online digital files need to be secured from unauthorized access in the cloud-based IT infrastructure. Cloud infrastructures are based on many patchworks of open-source code that can bring flaws to the cloud systems.
Accenture, CSC, HP, Fujitsu, IBM, Alcatel-Lucent, AWS, Atos, Capgemini, Cisco Systems, Dell, Deloitte, Ericsson, EY, HCL Technologies, Hitachi, Infosys, KPMG, Microsoft, NTT Data, Oracle, PwC, Siemens, TCS.