#IT Services Market Market

[trendingreportz]

IT Services Market - Forecast(2024 - 2030)

IT Services Industry Overview

Global IT Services Market size is expected to reach $1,852.65 billion by 2031, growing at a CAGR of 9.5% during 2024-2031. In 2023, Deployment of IT for network management have become the best practices to bring and automate all business operations into a single and simple solution.  The growing popularity of cloud based software and rising concern to automate business processes are continuously increasing the demand for IT services worldwide. The cloud based IT services is experiencing rapid growth among SMEs since 2022 and is expected to capture more than 80% market share by 2025. Similarly, the emerging big data technology and rising number of connected devices across enterprises are increasing the demand for IT service management and information security management platform.

Report Coverage

The IT services market report: “IT Services Industry Outlook– Forecast (2024-2031)”, by IndustryARC, covers an in-depth analysis of the following segments of the IT Services Market.

By Service Type: Professional Services (System Integration (Application Integration, Application Development, Application Testing, Application Lifecycle Management). Infrastructure Integration (Data Center, Security, Mobility, Network and Others), Training and Education, Consulting), Managed Services (Managed Security, Managed Data Center, Managed Network, Managed Mobility, Others), Telecom Services

By Business Function: Finance and Accounting, Human Resources, Sales and Marketing, Supply Chain Management, Operations and Support, Manufacturing

By Organization Size: SME, Large Enterprises

By Deployment Type: Cloud, On Premises

By End User Industry: Banking, Financial Services, and Insurance, Media and Entertainment, Government and Defense, Communication and Technology, Consumer Goods and Retail, Healthcare, Others

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Key Takeaways

• North America dominates the IT services market owing to rising preferences of companies to avail cloud based services.

• The rising penetration IoT based devices and large volume of data generation in enterprises are creating new opportunity for IT services market.

• Cloud based IT services is expected to accelerate the IT services market at a faster pace due to low cost deployment.

• Lack of standardization would lead end users to spend in IT services with uncertain ROI, which may inhibit the IT services industry growth.

IT Services Market Segment Analysis - By End User Type

IT Infrastructure services market is likely to increase at a CAGR of 9.76% during 2024-2031. Most of the companies, these days are facing challenges in maintaining their IT infrastructure functioning and cost. Hence, there are rising number of vendors tapping into this market to provide managed IT services. Similarly, managed Infrastructure are gaining popularity, as it help companies to focus only on their core business activities. The emerging technologies such as big data has also fuelled the growth of IT Infrastructure Services Market. Big Data Market is expected to reach approximately $318 billion by 2025. Similarly, with the growing volume of data, enterprise’s IT infrastructure need to ensure the most stable information security management so as to protect the enterprise data from hackers.  This requirement further accelerate the IT services market from IT infrastructure service application.

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IT Services Market Segment Analysis - By Deployment Type

The cloud based IT services is gaining popularity owing to low cost of deployment. Similarly, with the cloud based IT services, scale up and scale down of businesses can be achieved easily. Thus, cloud based IT services is considered to be the most effective deployment platform by many small and medium sized enterprises in recent time. Cloud based IT Services is expected to grow at a CAGR of 9.98% during 2024-2031. In 2022, approximately 87% of companies worldwide were using some form of cloud based services, out of which 20% companies are likely to choose 100% cloud based services in next 5 years. It is also expected that by 2025, 72% enterprise software will be fully cloud based.

IT Services Market Segment Analysis - By Geography

In 2023, North America dominated the IT services market with a market share of more than 35.23%, followed by APAC and Europe.  The growing adoption of cloud based IT services is driving the IT services market in this region. North America accounts for majority of the cloud traffic globally. According to the Cisco Global Cloud Index, the cloud traffic in the region is poised to grow at a CAGR of 14% during 2024-2031 and will account for nearly 54% of the global traffic by 2025. Similarly, the rising adoption of hosted and managed services is accelerating the demand for cloud based IT services in the region. In 2023, approximately 75% of businesses are using some form of managed services in North America Region, making the region highly potential for IT services market.

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IT Services Market Drivers

• Rising demand for cloud based IT services

Since 2020, most of the industries and enterprises are replacing their on premise software with cloud based software. The cloud based software provides access to entire enterprise applications at an affordable price without any substantial upfront expenditure in software and hardware.  Similarly, the adoption of cloud computing enable enterprises to scale up and scale down their businesses more conveniently. Hence, cloud based IT services is becoming a more useful and cost effective solution for SMEs in recent time. In addition to this, cloud based computing offer new business capabilities and opportunities for the SMEs. As per major IT service providers, cloud based IT services can reduce the cost of IT deployment by approximately 45%-50%. Many startups are investing into this technology looking at the future opportunities and hence, end users are now finding a large number of options to choose their vendors. 

• Emerging big data technology

The volume of data consumption have increased significantly in the wake high speed internet connection, rising industrial automation, and increasing penetration of mobile devices. This rise in data volume are creating enormous opportunity for IT service management. Similarly, with the increase in data volumes, Colocation data center are experiencing high demand. The companies in this sector are increasingly digitizing their operations and services, resulting in their increased dependence on IT Services. Process and manufacturing industries are taking the path of industrial IoT to improve operational efficiencies, which will result in generation of large amount of data and have a positive impact on IT Services market. The Industrial IoT market is expected to reach $100 billion by 2025 growing at CAGR of 18.56% during 2023-2025. Thus, with the evolving big data concept in enterprises and businesses, the IT services market is likely to find opportunity during the forecast period.

IT Services Market Challenges

• Lack of standardization

The success of IT services in businesses depends on multiple factors and is often varied with the companies. Similarly, each business is unique and hence use specific technologies to meet the particular business solution. Thus, due to lack of standardization, it is difficult for businesses to estimate the viability of IT services based on the success factor of same technology in other company.   A typical IT service deployment may cost between $75 to $300 per users. Thus, lack of ineffective IT services may cost a huge financial burden for the enterprises.

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Market Landscape

The IT services market share held by top 5 players were estimated approximately   29.7% in 2023. Acquisition, partnership, and Service differentiation are the key strategies adopted by most of the companies in this market.  IT services top 10 companies include:

Accenture PLC

Capgemini

Cognizant Technology Solutions Corporation

Oracle Corporation

Fujitsu

HCL Technologies Limited

Hewlett Packard Enterprise

Tata Consultancy Services

IBM Corporation

Infosys. 

Acquisitions/Technology Launches

• In December 2023, Analytics cloud platform Alteryx is going private. It’s agreed to be acquired by Clearlake Capital and Insight Partners in a deal valued at $4.4 billion. 

• In December 2023, IT outsourcer Cognizant snapped up Thirdera, a ServiceNow partner based in Colorado, and added almost 1,000 employees to its workforce of almost 350,000.

• In November 2023, Accenture completed its acquisition of Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries

[liesmyth]

the great dildo copyright war of 2024

[gwendolyn-of-loxley]

As always, please reblog so others may contribute to this poll.

[starcurtain]

Sometimes I think about the fact that we have absolutely no information on how long Aventurine actually spent in slavery.

He fled from the Avgin massacre as a young child, and we didn't see him again until he was a grown adult. I doubt he could have survived entirely on his own at that age and Sigonia's conditions seem too harsh for people to randomly adopt orphans, especially from a rival/outcast clan...

We do know that the master we see on screen was not his only master, because he was purchased from someone else, but we have no idea how many masters he had total before his final one, how many times he could have fled and been recaptured, how many times he was bought and sold...

We do know that Aventurine appears to have been kept on Sigonia or somewhere similarly tribal for those missing years, since his first request to the IPC is for Jade to take him to her "chief," but we don't even know how long Aventurine has been out of slavery. He doesn't look massively different in age from his "trial" with Jade to how he looks in-game now, and he did not rise through the IPC ranks over time like Topaz but won his role directly through his gamble with Jade and then later proving himself on Iymanika.

Basically, all this is leading to a big question: Is it possible that the Aventurine we know is only barely out of slavery? That there may be something like five years or fewer separating him from the wastelands of Sigonia? That he learned all these new behaviors, all this new information about how to operate as a free person in the universe, in what likely amounts to 2-3 years of Jade's guidance and his own hard work?

Man, what an incredible character. Really a standout among my very favorites.

[mostlysignssomeportents]

Greedflation, but for prisoners

I'm touring my new, nationally bestselling novel The Bezzle! Catch me TOMORROW (Apr 21) in TORINO, then Marin County (Apr 27), Winnipeg (May 2), Calgary (May 3), Vancouver (May 4), and beyond!

Today in "Capitalists Hate Capitalism" news: The Appeal has published the first-ever survey of national prison commissary prices, revealing just how badly the prison profiteer system gouges American's all-time, world-record-beating prison population:

https://theappeal.org/locked-in-priced-out-how-much-prison-commissary-prices/

Like every aspect of the prison contracting system, prison commissaries – the stores where prisoners are able to buy food, sundries, toiletries and other items – are dominated by private equity funds that have bought out all the smaller players. Private equity deals always involve gigantic amounts of debt (typically, the first thing PE companies do after acquiring a company is to borrow heavily against it and then pay themselves a hefty dividend).

The need to service this debt drives PE companies to cut quality, squeeze suppliers, and raise prices. That's why PE loves to buy up the kinds of businesses you must spend your money at: dialysis clinics, long-term care facilities, funeral homes, and prison services.

Prisoners, after all, are a literal captive market. Unlike capitalist ventures, which involve the risk that a customer will take their business elsewhere, prison commissary providers have the most airtight of monopolies over prisoners' shopping.

Not that prisoners have a lot of money to spend. The 13th Amendment specifically allows for the enslavement of convicted criminals, and so even though many prisoners are subject to forced labor, they aren't necessarily paid for it:

https://pluralistic.net/2024/04/02/captive-customers/#guillotine-watch

Six states ban paying prisoners anything. North Carolina caps prisoners' pay at one dollar per day. Nationally, prisoners earn $0.52/hour, while producing $11b/year in goods and services:

https://www.dollarsandsense.org/archives/2024/0324bowman.html

So there's a double cruelty to prison commissary price-gouging. Prisoners earn far less than any other kind of worker, and they pay vastly inflated prices for the necessities of life. There's also a triple cruelty: prisoners' families – deprived of an incarcerated breadwinner's earnings – are called upon to make up the difference for jacked up commissary prices out of their own strained finances.

So what does prison profiteering look like, in dollars and sense? Here's the first-of-its-kind database tracking the costs of food, hygiene items and religious items in 46 states:

https://theappeal.org/commissary-database/

Prisoners rely heavily on commissaries for food. Prisons serve spoiled, inedible food, and often there isn't enough to go around – prisoners who rely on the food provided by their institutions literally starve. This is worst in prisons where private equity funds have taken over the cafeteria, which is inevitable accompanied by swingeing cuts to food quality and portions:

https://theappeal.org/prison-food-virginia-fluvanna-correctional-center/

So you have one private equity fund starving prisoners, and another that's gouging them on food. Or sometimes it's the same company. Keefe Group, owned by HIG Capital, provides commissaries to prisons whose cafeterias are managed by other HIG Capital portfolio companies like Trinity Services Group. HIG also owns the prison health-care company Wellpath – so if they give you food poisoning, they get paid twice.

Wellpath delivers "grossly inadequate healthcare":

https://theappeal.org/massachusetts-prisons-wellpath-dentures-teeth/

And Trinity serves "meager portions of inedible food":

https://theappeal.org/clayton-county-jail-sheriff-election/

When prison commissaries gouge on food, no part of the inventory is spared, even the cheapest items. In Florida, a packet of ramen costs $1.06, 300% more inside the prison than it does at the Target down the street:

https://www.documentcloud.org/documents/24444312-fl_doc_combined_commissary_lists#document/p6/a2444049

America's prisoners aren't just hungry, they're also hot. The climate emergency is sending temperatures in America's largely un-air-conditioned prisons soaring to dangerous levels. Commissaries capitalize on this, too: an 8" fan costs $40 in Delaware's Sussex Correctional Institution. In Georgia, that fan goes for $32 (but prisoners are not paid for their labor in Georgia pens). And in scorching Texas, the commissary raised the price of water by 50% last summer:

https://www.tpr.org/criminal-justice/2023-07-20/texas-charges-prisoners-50-more-for-water-for-as-heat-wave-continues

Toiletries are also sold at prices that would make an airport gift-shop blush. Need denture adhesive? That's $12.28 in an Idaho pen, triple the retail price. 15% of America's prisoners are over 55. The Keefe Group – sister company to the "grossly inadequate" healthcare company Wellpath – operates that commissary. In Oregon, the commissary charges a 200% markup on hearing-aid batteries. Vermont charges a 500% markup on reading glasses. Imagine spending decades in prison: toothless, blind, and deaf.

Then there's the religious items. Bibles and Christmas cards are surprisingly reasonable, but a Qaran will run you $26 in Vermont, where a Bible is a mere $4.55. Kufi caps – which cost $3 or less in the free world – go for $12 in Indiana prisons. A Virginia prisoner needs to work for 8 hours to earn enough to buy a commissary Ramadan card (you can buy a Christmas card after three hours' labor).

Prison price-gougers are finally facing a comeuppance. California's new BASIC Act caps prison commissary markups at 35% (California commissaries used to charge 63-200% markups):

https://theappeal.org/price-gouging-in-california-prisons-newsom-signature/

Last year, Nevada banned any markup on hygiene items:

https://www.leg.state.nv.us/App/NELIS/REL/82nd2023/Bill/10425/Overview

And prison tech monopolist Securus has been driven to the brink of bankruptcy, thanks to the activism of Worth Rises and its coalition partners:

https://pluralistic.net/2024/04/08/money-talks/

When someone tells you who they are, believe them the first time. Prisons show us how businesses would treat us if they could get away with it.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/04/20/captive-market/#locked-in

[chiquilines]

Silly togachako uni doodles since I havent drawn them in a minute

[tanadrin]

Every single licensed piece of LOTR media after the original Peter Jackson trilogy has been absolute dogshit, and I am rather glad about that—it means that as the years go by, the odds of having to endure a remake are pretty low, and the original cultural place of the books will never quite be displaced. I think it also keeps the churn of Extruded Lord of the Rings Product down—unlike Star Wars, where everybody is hoping to make the next Andor or Rogue One, hopefully nobody has any illusions their LOTR project doesn’t fucking suck. And it’s only 20 years until LOTR enters the public domain, and people can do whatever they want with it.

Also helps that the bar is quite high—not only were the Jackson films pretty darn good, the books are genuinely terrific. Star Wars, Star Trek, Game of Thrones, and a lot of other stabs at the Next Big IP are fundamentally medium-to-bad in a way that establishes the bar for a “good” entry in the series pretty low. I like the original Star Trek a lot, for instance, but it’s not exactly one of the all time best written and produced TV shows! Whereas the LOTR books are well written enough there’s a noticeable disjunction in quality even just between bits of the movies that quote them or adapt them closely and bits Jackson made up—and that gulf becomes titanic in the hands of writers and directors who are even worse at Tolkien pastiche than 2000s Jackson (like, say, 2010s Jackson).

[hanzajesthanza]

they understood me better than anyone 💯

[blackg4te]

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[dandyads]

WWI Poster, 1918

[rthidden]

What is an Algorithm in 30 Seconds?

An algorithm is simply a series of instructions.

Think of a recipe: boil water, add pasta, wait, drain, eat. These are steps to follow.

In computer terms, an algorithm is a set of instructions for a computer to execute.

In machine learning, these instructions enable computers to learn from data, making machine learning algorithms unique and powerful.

[nr1-logo-design-inspiration]

Whale logo for a digital media agency ☆

[gallusrostromegalus]

"C: Is there a trope you wouldn’t touch with a ten foot pole?"

You couldn't fucking PAY me to write a coffeeshop AU. Love might be able to bloom on the battlefield, but it withers and rots in the foodservice industry.

[marisol-holme]

[Ad for myself because I back myself]

Might be shouting into the void, but if anyone is looking to hire a freelance experienced writer for their business, and happen to be on Tumblr, then lucky you!

Reach out to me on here, or follow my instagram (linked below) and we can do a quick zoom and a haggle over service charges.

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I am UK based.

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[leahsfiction]

mustard red and the divine comma arbitrage are each other's right hand arm man/confidante/companion/silly rabbit etc

[searchsystem]

Otl Aicher / Gruner + Jahr / Marketing Service / Poster / 1975