Global It Services Market Size & Outlook, 2023-2030
Global it services market, 2017-2030 (US$M)
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Global it services market highlights
- The global it services market generated a revenue of USD 1,357,362.1 million in 2023 and is expected to reach USD 2,591,070.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 9.7% by 2030.
- In terms of segment, reactive it services accounted for a revenue of USD 749,989.6 million in 2023.
- Proactive IT Services is the most lucrative approach segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 1,357,362.1 million |
| Market revenue in 2030 | USD 2,591,070.2 million |
| Growth rate | 9.7% (CAGR from 2023 to 2030) |
| Largest segment | Reactive it services |
| Fastest growing segment | Proactive IT Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reactive IT Services, Proactive IT Services |
Other key industry trends
- In terms of revenue, the North America accounted for 36.5% of the global it services market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 98,999.3 million by 2030.
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IT Services Market Scope
IT Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global it services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to it services market will help companies and investors design strategic landscapes.
Reactive it services was the largest segment with a revenue share of 55.25% in 2023. Horizon Databook has segmented the Global it services market based on reactive it services, proactive it services covering the revenue growth of each sub-segment from 2017 to 2030.
Cloud-based services offer expedited turnaround times (TAT), prompting businesses worldwide to adopt them for their cost-effective approach to IT expenditure. With governments making substantial investments in the IT industry, the demand for IT support services has soared. One key reason for the widespread popularity of cloud services is their superior data security compared to on-site servers.
Cloud storage ensures data integrity and remains impervious to physical threats like theft or building damage. Numerous corporate enterprises have expressed positive experiences with cloud computing's security as it reduces human mistakes. Additionally, cloud computing safeguards the private data of multiple companies.
In today's competitive landscape, companies seek efficient ways to enhance productivity, efficiency, and overall performance, and cloud technology serves as a flexible solution for expansion. The advent of the public cloud has significantly revolutionized businesses & IT strategies with many firms embracing the as-a-service model for cloud software and infrastructure.
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Target buyers of Global it services market databook
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Our clientele includes a mix of it services market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global it services market , including forecasts for subscribers. This global databook contains high-level insights into Global it services market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global it services market size, by regions, 2017-2030 (US$M)
Top 10 countries: It services market size, 2023 (US$M)
Global it services market share, by approach, 2023 & 2030 (%, US$M)
It services market: Opportunity assessment by country
Global it services market, by region, 2023 (US$M)
| Approach | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 297,328.4 | 318,403.4 | 341,554.3 | 373,969.3 | 410,279.7 | 451,082.2 | 495,186.6 | 541,784.5 | 590,776.6 | 642,261.2 | 696,633.4 | 754,148.7 | 815,054.4 | 879,409.2 | 8.6% |
| Europe | 175,120.8 | 189,558.5 | 205,554.9 | 227,533.8 | 252,389.5 | 280,588.1 | 311,491.3 | 344,674.8 | 380,150.2 | 418,058.2 | 458,740.9 | 502,463.1 | 549,496.2 | 599,995.5 | 9.8% |
| Asia Pacific | 189,425.8 | 207,866.9 | 228,462.7 | 256,263.2 | 287,988.2 | 324,301.0 | 364,599.3 | 408,496.0 | 456,101.7 | 507,683.7 | 563,764.9 | 624,791.0 | 691,231.2 | 763,421.5 | 11.1% |
| Latin America | 41,607.5 | 44,241.0 | 47,112.6 | 51,198.6 | 55,738.8 | 60,799.0 | 66,202.8 | 71,829.0 | 77,652.7 | 83,674.9 | 89,933.7 | 96,447.0 | 103,230.0 | 110,271.9 | 7.6% |
| MEA | 65,603.0 | 71,337.5 | 77,710.0 | 86,408.3 | 96,278.1 | 107,512.3 | 119,882.1 | 133,236.7 | 147,591.8 | 163,013.5 | 179,647.4 | 197,611.3 | 217,027.0 | 237,972.0 | 10.3% |
| Overall | 769,085.5 | 831,407.3 | 900,394.6 | 995,373.1 | 1,102,674.3 | 1,224,282.6 | 1,357,362.1 | 1,500,020.9 | 1,652,272.9 | 1,814,691.4 | 1,988,720.3 | 2,175,461.1 | 2,376,038.7 | 2,591,070.2 | 9.7% |
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