Lucintel Estimates IT Services Industry to Reach US $1,147 Billion in 2017

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Lucintel Estimates IT Services Industry to Reach US $1,147 Billion in 2017

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The global IT services industry holds significant opportunities for industry players due to increasing IT spending in the healthcare, retail, and transportation sectors, among others. The market is forecast to reach an estimated US $1,147 billion in 2017 with a CAGR of more than 5% during 2012–2017.

Lucintel, a leading global management consulting and market research firm, has analyzed the global IT services market and presents its findings in “Global IT Services industry Analysis2012-2017:Industry Trend, Profit, and Forecast Analysis.”

The global IT services industry comprises services related to the application of business and technical expertise to enable organizations to create, manage, optimize, and access information and business processes. The industry’s scope includes product support services such as hardware and software maintenance and professional services such as IT consulting, development, and integration services.

North America, with 42% of the global market share, dominates the highly fragmented global IT services industry. Outsourcing locations such as India, China, Vietnam, and the Philippines are anticipated to be key drivers because of their low-cost labor and skilled talent pools.The APAC IT services industry is expected to register the highest growth rate among all regions during the forecast period and lead the industry. Government-backed reforms are expected to contribute to significant increases in spending for IT investments. In addition, by generating new opportunities for IT vendors globally, cloud computing is expected to reshape the industry. It is anticipated to offer immense opportunity to penetrate in the small and medium business sector.

Lucintel’s research study reveals that high volatility in currency exchange rates, a shrinking talent pool, and high labor costs in developed countries are some of the major challenges for the IT services industry. The increasing global demand for systems, software, and services, as well as IT spending by governments, and the banking and financial sectors are likely to boost the IT services market. The industry is highly correlated with economic cycles as IT services are project based and often represent discretionary spending.
This study provides a concise overview of the global IT services industry. The report tracks three industry segments for four regions, North America, Europe, APAC, and Rest of World (ROW); thus, it tracks 12 segments of the global IT services industry. The report helps executives plan for their inventory and resources. This report does not include revenue from manufacturing of tangible IT products, such as hardware and software.

For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com.
Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.

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