IT Consulting Services Market Projected to Witness Vigorous Expansion by 2026
Posted by amol on June 25th, 2019
IT consulting services are a part of overall consulting services, comprising professional business computer consultancy and advisory services. Fundamentally, the IT consulting industry includes a four tier system: professional services firms, staffing firms, independent contractors, and information security consultants. IT consulting services provide expertise, experience, and industry intelligence to enterprises. IT consulting services help enterprises to better design, architect, optimize, and implement their security software, people, and processes. Business organizations wish to gain external objective advice and recommendations and access to the specialized expertise of consultants, attracting IT consulting firms. Moreover, the need to outsource IT services from specific companies is also positively impacting the global IT consulting services market. IT consulting services supports organizations decision to align their investment and technology strategies with their business or process strategies. The global IT consulting services market is anticipated to see significant growth over the forecast period 2018 – 2026.
Ongoing trends of simplification of business and operating models, and need for IT investment monitoring and management is expected to drive the global IT consulting market in the near future. The similar demand traction in IT consulting services is anticipated to be seen in the late forecast period as well. Furthermore, migration of traditional IT solutions to mobile computing solutions and IT infrastructure migration to cloud computing infrastructure are some of the significant drivers responsible for boom in the IT consultancy service market globally. However, security and reliability concerns are anticipated to slow down the growth of the IT consulting services market across the globe. Prospects of cloud infrastructure are expected to create lucrative market opportunities over 2016 – 2026.
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The global IT consultancy services market is segmented based on type of service, application, and end use industry. The services type segment is classified as flyer optimization services, server assessment, workplace assessment, SAP system inspection, data protection assessment, and others. Based on application, the IT consulting services market is categorized as information protection, threat protection, web and cloud protection, and others. Threat protection segment is further cross segmented into data center threat protection and end point protection. The information protection segment is cross segmented into data loss prevention, authentication and encryption, and others. Others, a sub-segment of IT consulting services application segment includes advisory services, design services, implementation services, optimization services, and residency services. The end use industry segment is sub segmented as banking, financial services and insurance, healthcare, IT & telecom, government and others.
The global IT consulting services market based on geography, is divided into five regions which include North America, Europe, Asia Pacific, Middle East &Africa (MEA), and South America. The demographic analysis across the mentioned geographic regions is anticipated to show North America as the largest market share contributing geography. Moreover, Europe is expected to witness marginal growth with a significant compound annual growth rate (CAGR) over the forecast period. Asia Pacific and Middle East & Africa are expected to show steady growth in near future; however, the regions are anticipated to witness remarkable CAGR during 2022 – 2026. The global IT consulting services market, analysis across major counties of the above mentioned regions include the U.S., Canada, U.K., Germany, France, Italy, GCC countries, South Africa, and Brazil.
Companies operating in the global IT consultancy services market provide advanced and scalable services in domestic and international markets. Moreover, players in the market are investing in service based models driving the global market. Some of these major players include Fujitsu Ltd., HCL Technologies Limited, Hexaware Technologies Limited (HTL), Infosys Limited, Accenture plc, Ernst & Young (EY), KPMG, PricewaterhouseCoopers (PwC), Avanade, Cognizant Technology Solutions Corp, Gartner, Inc., Syntel Inc., IBM Corporation, Tata Consultancy Services Limited, and Deloitte Touche Tohmatsu Limited.
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About the Authoramol
Joined: June 20th, 2019
Articles Posted: 260
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