IT Services Market Report and Forecast 2025-2034

The global IT services market size was approximately USD 1.16 Trillion in 2024. The market is assessed to grow at a CAGR of 7.60% between 2025 and 2034, reaching a value of USD 2.41 Trillion by 2034.

Key Trends in the Market

Information technology (IT) services is the use of business and technical competence to support companies in creating, managing, and improving business processes and access to information. A highly skilled and trained workforce is employed by an organisation to help it in managing large quantities of data effectively, making data driven decisions, creating outcome-oriented marketing strategies, and utilising latest technologies. It also helps consumers in reaching businesses through various channels, which boosts product demand and overall growth.

• The expansion of e-commerce has fuelled the global IT services market growth. Technologies like artificial intelligence (AI) are utilised by marketing experts in generating questionnaires and analysing data. It also helps them in driving sales by providing tailored product recommendations to consumers based on their search history and location data.
• The threat of malicious spying and hacking is prompting companies to integrate advanced IT services into their cybersecurity strategies. This includes protecting their networks from unauthorised users, monitoring internet traffic for malware, securing devices from external attacks, and protecting information stored on cloud. This is contributing to the global IT services market demand.
• The digitalisation of various platforms for e-governance is one of the key IT services market trends. This enables governments of both developed and developing nations to provide citizen centric services to people and boost mutual trust between them.
• Market Segmentation

Breakup by Service Type:

• Professional Services
• Managed Services

Breakup by Deployment Mode:

• On-Premises
• Cloud

Breakup by Organisation Size:

• Small and Medium Enterprises
• Large Enterprises

Breakup by Application:

• Systems and Network Management
• Data Management
• Application Management
• Security and Compliance Management
• Others

Breakup by Industry Vertical:

• BFSI
• Consumer Goods and Retail
• Healthcare
• Government
• IT and Telecom
• Others

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IT services market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

IBM Corp.

IBM Corp. is among the world’s leading companies operating in the information technology sector. It was incorporated in 1911 and is headquartered in the state of New York in the United States. It mainly provides hybrid cloud systems, artificial intelligence support, and business services. Its four business segments include Software, Infrastructure, Consulting, and Financing that provide client specific solutions.

HP Inc.

HP Inc. stands for Hewlett Packard, a company which was founded in 1939 and is headquartered in Texas, United States. It is one of the leading organisations in the world which manufactures personal systems and printing products. It operates through six different business units which include Compute, HPC & AI, Financial Services, Intelligent Edge, Corporate Investments, Storage, and Other.

Accenture Plc.

Accenture Plc was incorporated in 2009 and is headquartered in Dublin, Ireland. It is a globally renowned information technology company providing professional services. It has a track record of having served more than 9000 clients across 120 countries and ranks among Fortune’s list of world’s most admired companies. It is engaged in providing application and cloud services, business process outsourcing and consulting services, among others.

Other global IT services market players include Microsoft Corp., Cisco Systems Inc., HP Inc., Dell Technologies Inc., Fujitsu Ltd., Intel Corp., Toshiba Corp., Verizon Communications Inc., and Tata Consultancy Services Ltd., among others.