North America IT Services Market: By Service Model (Telecom service, Professional service, Managed service), By Deployment Type (On-Premises, Cloud), By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecommunications, IT and ITeS, Governme

North America IT Services Market: By Service Model (Telecom service, Professional service, Managed service), By Deployment Type (On-Premises, Cloud), By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecommunications, IT and ITeS, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences, Others) And Region –Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031

North America IT Services Market: By Service Model (Telecom service, Professional service, Managed service), By Deployment Type (On-Premises, Cloud), By Vertical (Banking, Financial Services, and Insurance (BFSI), Telecommunications, IT and ITeS, Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences, Others) And Region –Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031

PRODUCT OVERVIEW

IT services are the use of business and technical knowledge to assist companies in producing, managing, and optimizing information and business processes. Based on the competencies necessary to supply services such as planning, construction, and execution, the market for IT services can be classified into three categories. Among the various types of services accessible are infrastructure services, business process services, and application services. Because of increased advancements and strong digitalization that benefits all verticals, including clients, the IT Services market is booming, especially in North America.

MARKET HIGHLIGHTS

North America IT Services Market is expected to register substantial growth with a CAGR of 7.8% by 2031

North America IT Services Market to surpass USD 965.5 billion by 2031 from USD 457.6 billion in 2021 at a CAGR of 7.8% in the coming years, i.e., 2021-2031. The North American IT Services market is influenced by factors such as the rising trend of big data and analytics, the growing interest of small and medium-sized organizations in adopting IT services, and increased IT expenditure. As a result of the massive expansion in digital data, businesses have migrated to cloud services, hastening the adoption of IT services.

NORTH AMERICA IT SERVICES MARKET: SEGMENTS

Managed Services segment is expected to lead the market with the highest CAGR during 2021-31

On the basis of Service Model, the North America IT Services Market is divided into Telecom service, Professional service, and Managed service. Professional Services help businesses improve infrastructure flexibility and scalability while offering outstanding service in response to the unique needs of their customers. Firms are increasingly outsourcing their operational, day-to-day IT infrastructure services to 3rd-party suppliers in order to focus on their core business activities. As a result of this problem, demand for managed services is expected to rise.

On-Premises segment is projected to witness maximum growth during 2021-31

Based on Deployment Model, the North America IT Services market is segmented into On-Premises, Cloud. The implementation of managed services on-premises is time- and capital-intensive, but it ensures greater privacy and data integrity. To keep managed services working well, it also demands the assistance of professionals. Cloud-based managed services, conversely, are becoming increasingly popular due to their scalability, reliability, and flexibility. The cloud requires less hardware than on-premises implementation and can be easily extended to match organizational demands. Cloud-based services are cost-effective and provide the most up-to-date technology, communication, and software capabilities.

MARKET DYNAMICS

Drivers

Growing enterprises’ shift towards adoption of digital transformation is boosting the market

Rising awareness of cloud technology and its benefits

Restraint

Increasing need to meet the regulatory and compliance needs

NORTH AMERICA IT SERVICES MARKET:

Key Players

• IBM

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Hewlett Packard Enterprise
• Accenture
• Cognizant
• HCL Technologies
• Wipro
• Infosys
• Rackspace
• CISCO
• Others prominent players

NORTH AMERICA IT SERVICES MARKET REPORT ALSO CONTAINS ANALYSIS ON:

North America IT Services Market Segments:

• By Service Model
• Telecom service
• Professional service
• Managed service
• By Deployment Type
• On-Premises
• Cloud
• By Vertical
• Banking, Financial Services, and Insurance (BFSI)
• Telecommunications
• IT and ITeS
• Government and Public Sector
• Retail and Consumer Goods
• Manufacturing
• Energy and Utilities
• Media and Entertainment
• Healthcare and Life Sciences
• Others
• North America IT Services Market Dynamics
• North America IT Services Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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