Latest News- IT Professional Services Market: Project-oriented services is expected to lead the Type segment during 2025-2029

The IT Professional Services Market is being driven by Growing digital transformation

The IT Professional Services Market is expected to grow at a CAGR of 10.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 657.9 billion. The IT professional services market is witnessing a notable trend towards the adoption of hybrid and multi-cloud environments. This shift is primarily driven by the business requirements of flexibility, scalability, and efficient resource allocation. Hybrid and multi-cloud solutions enable organizations to utilize a combination of private, public clouds, and on-premises infrastructure. By implementing these environments, businesses can take advantage of multiple cloud platforms while retaining control over their critical data and applications. A key benefit of hybrid and multi-cloud strategies is the flexibility to select the most optimal cloud solution for each specific workload or application, ensuring optimal performance and cost efficiency.

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

Type
- Project-oriented services
- Information technology outsourcing
- IT supporting and training services
- Enterprise cloud computing services
End-user
- Large enterprises
- Small and medium enterprises
Deployment Model
- On-premise
- Cloud-based
- Hybrid
End-User Industry
- BFSI
- Healthcare
- Manufacturing
- Retail
- Government
- IT & Telecom
- Energy & Utilities
Geography
- North America
  - Canada
  - US
- Europe
  - Germany
  - UK
  - France
  - Italy
- APAC
  - China
  - India
  - Japan
- Middle East and Africa
  - Egypt
- South America
  - Brazil
  - Argentina

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:

Growing digital transformation
Increasing shift of businesses to cloud-based services and infrastructure
Growing IT industry in developing regions

However, the market also witnesses some limitations, which are as follows:

Shortage of skilled workforce
Security and privacy concerns associated with IT professional services
High complexity of IT projects

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Market Scope in IT Professional Services Market Research Report

Market Scope
Report Coverage	Details
Page number	202
Base year	2024
Historic period	2019-2023
Forecast period	2025-2029
Growth momentum & CAGR	Accelerate at a CAGR of 10.6%
Market growth 2025-2029	USD 657.9 billion
Market structure	fragmentation
YoY growth 2024-2025(%)	9.3
Key countries	US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), US, Germany, Canada, China, UK, India, France, Japan, Italy, and Brazil
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the Professional Services sector, IT professional services are in high demand due to customer requests for automation and improved operational efficiency. Remote working and business strategies require effective expense management, resource allocation, and project management. ITO services help organizations meet client demands through business analytics and technological developments. Large enterprises utilize IT services for business operations and revenue management. Talent recruiting, business plans, and the use of resources, tools, and business processes are essential for delivering quality services.

Market Research Overview

The IT professional services market encompasses firms delivering IT consulting and system integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. According to Technavio, the global IT consulting and other services market size is determined by the consolidated revenue generated by companies offering all types of IT consulting and information management services. This market includes income derived from IT service contracts. Factors fueling market expansion include escalating government investments in modern IT infrastructure, heightened demand for operational efficiency, the shift towards remote working, and the implementation of automated billing and expense management systems. Additionally, professional service firms are adopting advanced business strategies, such as resource allocation and project management, to optimize service delivery and meet customer demands in the areas of consultation, audit, and accounting.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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