According to the latest report published by Variant Market Research, the global IT services market is estimated to reach $1,752 Billion by 2024 from $1,152 Billion in 2016, at a CAGR of 5.4% from 2016 to 2024.

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Rise in number of start-up community and growing technology to drive the global IT services market

The global IT services market is driven by factors such as rise in number of start-up community and growing technology, growing importance of developing an IT efficient infrastructure and execution of IT services like system integration services and consulting services. Stubborn competition may hamper the market growth. Furthermore, the market will place a great importance on the needs and outcomes required by the business to improve revenue, profitability, & employee productivity in the upcoming years, this would provide an opportunity for market players of IT services market.

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Market Segmentations

The global IT services market is classified into consulting type, service type, industry vertical, infrastructure, and geography. Service type segment includes application modernization, application development, system integration, performance engineering, and other IT business services. IT consulting & network consulting are covered under the consulting type sub segment. Industry vertical includes government, financial, computer services, telecom, transportation, manufacturing, and other industry verticals. Infrastructure comprises desktop support infrastructure, data center infrastructure, help desk infrastructure, mainframe support infrastructure, and other infrastructures. North America (U.S., Mexico, and Canada), Europe (Germany, UK, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global IT services market.

Asia-Pacific is estimated to witness fastest CAGR from 2016 to 2024
Asia-Pacific is predicted to grow at a fastest CAGR over the forecast period 2016 to 2024. The growth is attributed to growing technology and the increase in numbers of start-ups. Furthermore, countries such as Ireland, India, United Kingdom, South Africa are witnessing significant growth rate over the forecast period.

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Competitive Landscape

The key IT services companies are Tata Consultancy Services, Hewlett Packard Enterprise, Cognizant Technology Solutions Corporation, IBM Corporation, Infosys Limited, Capgemini SE, Accenture PLC, Cisco Systems, HCL Technologies Limited, and Oracle Corporation, among others.

Scope of IT Services Market

Service Type Segments
• Application Development
• Application Modernization
• System Integration
• Performance Engineering
• Others

Consulting type Segments
• IT Consulting
• Network Consulting

Industry Vertical Segments
• Financial
• Government
• Computer services
• Manufacturing
• Telecom
• Transportation
• Others

Infrastructure Segments
• Desktop Support Infrastructure
• Data Center Infrastructure
• Mainframe Support Infrastructure
• Help Desk Infrastructure
• Others

Geographical Segments
• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o Others

• Asia-Pacific
o India
o China
o Others

• RoW
o South America
o Middle East
o Africa

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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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