IT Professional Services Market Size 2019|Current Business Trends & Growth Opportunities Forecast To 2025

The IT & telecom segment has dominated the IT professional services market as various technological companies are opting for IT professional services to focus on the development of Technology as a Service (TaaS). For example, Netflix uses TaaS from Amazon Web Services (AWS) to store its digital content on a cloud platform, optimizing it for slow internet devices. The marketing & communication segment is also growing as these companies hire IT professional services to integrate cloud-based services into their operations, making use of high data storage capabilities. For instance, Telemax Mobile uses cloud platform services from Teletronics LLP for mobile app solutions.

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Project-oriented services have dominated the IT professional services market due to the increasing adoption of project management services among small & medium enterprises. These services are often customized to meet individual client needs, helping them to optimize operational efficiency and deliver projects on time within an allocated budget. The IT Outsourcing (ITO) service is also growing due to various advantages such as controlled IT cost, reduced labor cost, increased efficiency & competitiveness, easy deployment of technology, reduced risk, and high security.

On-premise deployment helps reduce dependence on the internet, avoiding data loss and fraud as well as the flexibility of upgrading the IT infrastructure when required. Cloud-based deployment provides better options in terms of operational efficiency and storage management. Cloud-based services, such as IaaS and SaaS, are expected to increase rapidly in the future, leading to growth in cloud-based IT professional services market.

The major IT professional services market players are Accenture PLC, Capgemini SA, IBM Corporation, Microsoft Corporation, DXC Technology Company, Fujitsu Limited, Hewlett Packard Enterprise Development LP (HPE), and Oracle Corporation. These firms have adopted key strategies such as mergers & acquisitions and increasing the number of service offerings. For instance, in September 2018, IBM introduced Watson services, which proved to a be breakthrough in the AI sector and in February 2015, Accenture acquired Gaspo to augment its analytics services in Brazil.

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The widescale adoption of cloud computing also acts as a major force driving the market. As enterprises prefer cloud-based services, it has become easier for IT professional services vendors to deliver services via cloud technology. Effective cost reduction is another major reason for IT professional services market growth. As the overall expenditure and IT infrastructure costs come down, the adoption rate of IT professional services witnesses a rapid increase. Added benefits, such as ease of deployment, better storage management, and higher degree of flexibility, have also caused a surge in market growth. The risks of data breaches, cyber-attacks, shortage of skilled workforce, reductions in free trade, and privacy theft can hinder market growth.

North America is the leading region in the IT professional services market. The U.S. has the best IT and technology infrastructure in the world, increasing the adoption of IT services in the region. Also, the U.S. government offers the best tax margins for the IT sector, offering around 3% more tax relaxation than the global standards. The presence of major market players, such as Microsoft, IBM, AWS, and Oracle, in the U.S. also augments the market growth in this region. The U.S. has been a leader in outsourcing various business services, accounting for 60% of all services outsourced globally, which has boosted the adoption of IT professional services in this region.

The Asia Pacific IT professional services market is expected to have the highest growth over the forecast period. This can be contributed to global enterprises outsourcing their back-end operations to low-cost Asian economies. As developing economies continue to thrive, the need for knowledge-based professional services is expected to undergo exponential growth. SMEs in the MEA are also expected to depict a sustained increase in the adoption of IT professional services.

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