IT Professional Services Market Size, Trends And Global Forecast Report 2024 To 2033

The IT professional services market size has grown strongly in recent years. It will grow from $845.56 billion in 2023 to $923.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to proliferation of mobile devices, growing cybersecurity concerns, outsourcing trends, remote work enablement, rise of the Internet.

The IT professional services market size is expected to see strong growth in the next few years. It will grow to $1348.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to rollout of 5G networks, proliferation of IoT devices, adoption of AR/VR technologies, remote work support, growing emphasis on sustainability. Major trends in the forecast period include AI-driven automation, cybersecurity innovation, hybrid cloud solutions, cross-platform integration, user-friendly IT solutions.

Market Overview -
IT professional services refers to the process instructed using guidelines, prepared and designed in systems, along with corroborating practices, which can be accomplished by a business or component of an enterprise to organize, supply, function, and manage IT solutions that are provided to clients.

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Rising Demand For Digital Upgrades Fuels Growth In IT Professional Services Market
The increasing demand for digital upgrades for businesses is expected to propel the growth of the IT professional services market going forward. The digital upgrade is either buying a new platform or updating old systems to deal with technological issues. Digital upgrades typically save staff time, decrease system downtime, and enhance end-user experiences. For instance, in 2021, according to PTC, an American computer software and services company, more than 52% of companies will have completed digital transformations or are in the process of doing so. Therefore, the increasing demand for digital upgrades for businesses will drive the growth of the IT professional services market.

Competitive Landscape -
Major companies operating in the IT professional services market report are Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, Cisco Systems Inc., Ernst & Young Global Limited, Oracle Corporation, KPMG International Ltd., Salesforce Inc., Tata Consultancy Services Limited, Hewlett Packard Enterprise Company, Fujitsu Limited, Larsen & Toubro Infotech Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., DXC Technology Company, Atos SE, VMware Inc., Wipro Limited, CGI Inc., HCL Technologies Limited, Tech Mahindra Limited, Mphasis Limited, Mindtree Limited, Hexaware Technologies Limited, Syntel Inc., Datto Inc.

Technological Advancements Driving Innovation In IT Professional Services Market
Technological advancement is a key trend gaining popularity in the IT professional services market. Major companies operating in the IT professional services market are focused on developing new technological solutions to strengthen their position in the market. For instance, in October 2021, VMware Inc., a US-based company operating in IT professional services, launched Cross-Cloud services for multi-cloud management. This group of integrated services would help to deliver a faster and smarter path to the cloud for digital businesses, providing customers with the ability to build, run, and better secure apps through any cloud with freedom and flexibility. Through VMware Cross-Cloud services, customers would have key advantages such as accelerated cloud journeys, cost efficiency, flexibility, and control over multiple clouds. This service helps manage multiple clouds by providing a unified platform.

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Key Segments -

The IT Professional services market covered in this report is segmented -

1) By Type: Project-Oriented Services, ITO Services, IT Support And Training Services, Enterprise Cloud Computing Services
2) By Deployment: On-Premise, Cloud
3) By End-Use: Technology Companies, Consulting Companies, Marketing And Communication Companies, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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