The IT Services Market size is estimated at USD 1.20 trillion in 2024, and is expected to reach USD 1.81 trillion by 2029, growing at a CAGR of 8.38% during the forecast period (2024-2029).
The rising IT expenditures throughout the world, alongside the growing embrace of software-as-a-service and expanding cloud solutions, underscore a surging demand for IT services. With an enhanced IT infrastructure, the frequency of data breaches is on the rise, driving the market growth opportunities significantly.
The IT services market, characterized by intense competition, is primarily led by a wide range of market players. While these players currently hold significant market shares, the landscape is shifting. The rise of advanced IT consultancy services is empowering new entrants, enabling them to bolster their positions, particularly in emerging economies.
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