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Global IT Professional Services Market to reach USD 1511.6 billion by the end of 2029

Global IT Professional Services Market Size study&Forecast, by Type (Project-oriented Services, ITO Services, IT Support & Training Services, Enterprise Cloud Computing Services) by Deployment (On-premise, Cloud), by Enterprise-size (Small & Medium Enterprises (SMEs), Large Enterprises), by End-user (Technology Companies, Consulting Companies, Marketing & Communication Companies, Others)and Regional Analysis, 2022-2029

Product Code: ICTNGT-35227857
Publish Date: 20-03-2023
Page: 200

Global IT Professional Services Market is valued at approximately USD 753.1 billion in 2021and is anticipated to grow with a healthy growth rate of more than 9.1% over the forecast period 2022-2029. IT Professional Services enable individuals and organizations to accomplish a goal by providing a wide range of technical knowledge and expert advisory services. These professional services include research, consultancy services, accounting and technical services. Benefits of services such as increased efficiency, minimal human errors, and reduced time aregaining an advantage over the market. Additionally, the rising need for automation to increase operational efficiency and easy low-cost implementation of a few factors such as cloud services is boosting the market for IT Professional Services.

The increasing need for automation is estimated to generate nearly USD 214 billion worldwide by 2021. People are shifting towards automation as it is efficient and time-saving. IT professional service providers lay a standardized approach to digitally transform business operations. For instance, a new infrastructure was deployed by Amazon Web Services (AWS) to expand its services to multiple industries. Remote working on large scale was prevailing during the pandemic leading to several technological services across companies. The global cloud services market is expected to reach nearly 168.6 billion U.S. dollars by 2025. It is anticipated to have the largest share in the market at about 65%. The prevailing IT services is also projected by individual spending on it which is USD 345.50 in 2023. Additionally, government focus on the digitalization of their economic operations and continuous advancements, technological improvements are expected to create market opportunities for professional services. However, the high cost of IT Professional Services stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global IT Professional Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.North America dominated the market for IT Professional Services due to the adoption of cloud services by several industries. The rising use of advanced technologies such as artificial intelligence (AI) and Machine Learning (ML) is fueling the demand inthe region. Furthermore, the majority of industries are investing in IT Professional services driving the market.Asia Pacific is expected to be the fastest-growing region with a CAGR of 11.0% over the forecast period. It comprises several small and medium enterprises that rely on professional services for their day-to-day operations.
Major market player included in this report are:
Accenture Plc
Datto, Inc.
Capgemini Technology Services India Limited
International Business Machines Corporation
DXC Technology Company
Hewlett Packard Enterprise Development LP
Microsoft Corporation
Oracle Corporation
VMware, Inc.
Recent Developments in the Market:
 In June 2022, new innovations were made by Hewlett Packard Enterprise for the HPE GreenLake edge cloud platform to provide cloud services at minimum costs.
 In July 2021, Hewlett Packard Enterprise acquired a major cloud service provider Zerto to expand HPE GreenLake.
Global IT Professional Services Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Deployment, Enterprise-size, End-user, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
Project-oriented Services
ITO Services
IT Support & Training Services
Enterprise Cloud Computing Services
By Deployment:
By Enterprise-size:
Small & Medium Enterprises (SMEs)
Large Enterprises
By End-user:
Technology Companies
Consulting Companies
Marketing & Communication Companies
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. IT Professional Services Market, by Region, 2019-2029 (USD Billion)
1.2.2. IT Professional Services Market, by Type,2019-2029 (USD Billion)
1.2.3. IT Professional Services Market, by Deployment, 2019-2029 (USD Billion)
1.2.4. IT Professional Services Market, by Enterprise-size, 2019-2029 (USD Billion)
1.2.5. IT Professional Services Market, by End-user, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global IT Professional Services Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global IT Professional Services Market Dynamics
3.1. IT Professional Services Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising need for automation. Easy Deployment of Cloud services
3.1.2. Market Challenges High Cost of IT Professional Services
3.1.3. Market Opportunities Advancements in Formulation. Increasing Digitalization.
Chapter 4. Global IT Professional Services MarketIndustry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global IT Professional Services Market, by Type
6.1. Market Snapshot
6.2. Global IT Professional Services Market by Type, Performance – Potential Analysis
6.3. Global IT Professional Services Market Estimates & Forecasts by Type2019-2029 (USD Billion)
6.4. IT Professional Services Market, Sub Segment Analysis
6.4.1. Project-oriented Services
6.4.2. ITO Services
6.4.3. IT Support & Training Services
6.4.4. Enterprise Cloud Computing Services
Chapter 7. Global IT Professional Services Market, by Deployment
7.1. Market Snapshot
7.2. Global IT Professional Services Market by Deployment, Performance – Potential Analysis
7.3. Global IT Professional Services Market Estimates & Forecasts by Deployment2019-2029 (USD Billion)
7.4. IT Professional Services Market, Sub Segment Analysis
7.4.1. On-Premise
7.4.2. Cloud
Chapter 8. Global IT Professional Services Market, by Enterprise-size
8.1. Market Snapshot
8.2. Global IT Professional Services Market by Enterprise-size, Performance – Potential Analysis
8.3. Global IT Professional Services Market Estimates & Forecasts by Enterprise-size 2019-2029 (USD Billion)
8.4. IT Professional Services Market, Sub Segment Analysis
8.4.1. Small & Medium Enterprises (SMEs)
8.4.2. Large Enterprises
Chapter 9. Global IT Professional Services Market, by End-user
9.1. Market Snapshot
9.2. Global IT Professional Services Market by End-user, Performance – Potential Analysis
9.3. Global IT Professional Services Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
9.4. IT Professional Services Market, Sub Segment Analysis
9.4.1. Technology Companies
9.4.2. Consulting Companies
9.4.3. Marketing & Communication Companies
9.4.4. Others
Chapter 10. Global IT Professional Services Market, Regional Analysis
10.1. IT Professional Services Market, Regional Market Snapshot
10.2. North America IT Professional Services Market
10.2.1. U.S.IT Professional Services Market Typebreakdown estimates & forecasts, 2019-2029 Deployment breakdown estimates & forecasts, 2019-2029 Enterprise-size breakdown estimates & forecasts, 2019-2029 End-userbreakdown estimates & forecasts, 2019-2029
10.2.2. CanadaIT Professional Services Market
10.3. Europe IT Professional Services Market Snapshot
10.3.1. U.K. IT Professional Services Market
10.3.2. Germany IT Professional Services Market
10.3.3. France IT Professional Services Market
10.3.4. Spain IT Professional Services Market
10.3.5. Italy IT Professional Services Market
10.3.6. Rest of EuropeIT Professional Services Market
10.4. Asia-PacificIT Professional Services Market Snapshot
10.4.1. China IT Professional Services Market
10.4.2. India IT Professional Services Market
10.4.3. JapanIT Professional Services Market
10.4.4. Australia IT Professional Services Market
10.4.5. South Korea IT Professional Services Market
10.4.6. Rest of Asia PacificIT Professional Services Market
10.5. Latin America IT Professional Services Market Snapshot
10.5.1. Brazil IT Professional Services Market
10.5.2. MexicoIT Professional Services Market
10.6. Rest of The World IT Professional Services Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Accenture Plc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. Datto, Inc.
11.2.3. Capgemini Technology Services India Limited
11.2.4. International Business Machines Corporation
11.2.5. DXC Technology Company
11.2.6. FUJITSU Limited
11.2.7. Hewlett Packard Enterprise Development LP
11.2.8. Microsoft Corporation
11.2.9. Oracle Corporation
11.2.10. VMware, Inc.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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