Global IT services industry generated revenues of $697.7bn in 2017 and displayed Growth at a CAGR of 2.8% during 2013-2017.
The rapid advancements in technology and a surge in demand for expert services has contributed towards growth of global IT Services. IT services is an amalgamation of services pertaining to Business Process Outsourcing (BPO) and infrastructure.
The advancements centered across these services reflected positively on the overall growth of the global IT services industry. In a newly published report titled, ‘IT Services Global Industry Guide 2013-2022’, Market Research Hub provides crucial information on the impact of the current market trends and developments on the industry growth.
With the implementation of Big Data across industries such as banking, telecommunications, healthcare, investment, finance, and media among others, demand for IT services is increased significantly. Data management is an emerging niche in all major industries that offers solutions to overcome management challenges in end-use industries.
Growing need to identify new customers and manage customer choices has encouraged companies to opt for IT services and achieve optimized business solutions. This rising demand for IT services is likely to boost the growth of IT services industry.
In addition, the SMEs are increasingly outsourcing their businesses to limit their expenses by hiring on-premise resources. A number of companies also prefer outsourcing some of the core services related to technical support and customer support.
This has led to a surge in demand for BPO services, thereby directing the industry towards healthy progress.
Shift towards digital economy is also creating demand in the e-retail and e-commerce industries. Adoption of leading technological solutions has significantly transformed consumer experiences and escalated their expectations.
Expansion of e-commerce platforms has further crafted novel growth opportunities for the leading market players globally. To facilitate data management, companies in the e-commerce industry are adopting data management solutions and interfaces to ensure superior transactions.
Banking on the growing requirements of the end-user industries, leading companies are focusing on offering big data interfaces and services. In addition, IT companies are focusing on incorporating new dimensions on the portals to improve overall buying experience of the customers.
Leading companies are concentrating on offering technologically immersive experience to the customers such as making online transactions and viewing products from various angles through technological solutions such as augmented reality, social media purchase, and drone enabled delivery. Through offering novel and innovative technological solutions, major companies are concentrating on retaining their old customers and attracting new ones.
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IT Services Industry: Report Components
Vital information compiled in the report gives a detailed outline of the industry and critically summarizes important components that can have a lasting impact on the scope of growth of the industry. The report offers a thorough understanding of the market definition and dynamics that enlighten the readers about the diverse parameters that shape the market.
Additionally, the report also outlines crucial insights on the ongoing developments and trends that are driving the market, along with enlisting the factors that influence customer’s purchase journey. Readers can use this information and hone their analysis in order to frame beneficial investment decisions.
IT Services Industry: Key Outcomes
Besides factors that impact the purchase decisions of customers, the report gives a detailed account of the marketing strategies that are being formulated by major companies across the industry. Information presented in the report state pivotal insights pertaining to the tactics adopted by major companies and their influence on the expansion of the market.
On the basis of these insights, suppliers, investors and stakeholders can comprehend the marketing strategies of the market players and direct their investment in the right direction.
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