The North American IT Services Industry is Expected to Reach $700.6 Billion by 2027: Increased Demand for Cloud Services Drives Growth

DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "North America IT Services Market by Service Type, Deployment Mode, Organization Size, Business Function, Vertical (BFSI, Government and Defense, Healthcare, and Consumer Goods and Retail) and Country - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The North America IT services market size is expected to grow from USD 500.0 billion in 2022 to USD 700.6 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.

As per managed services, managed data center and IT infrastructure to hold the largest market size during the forecast period.

The managed services segment is sub-segmented into managed security service, managed network service, managed data center and IT infrastructure, managed communication and collaboration, managed mobility service, and managed information service. As per managed services, managed data center and IT infrastructure market size is expected to grow from USD 43.1 billion in 2022 to USD 62.0 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.

To fully embrace digitalization, a company's IT infrastructure must be matched with business needs. Greater security and compliance, agile infrastructure, increased staff productivity, and improved customer experiences are all benefits of IT infrastructure.

The servicing and maintenance of all hardware and network equipment, such as installation, upgrading, and patching of Operating Systems (OS) and other software, storage and backups, and fault tolerance, are all typically the responsibility of service providers and are based on the service level agreement.

Further, a managed data center is a particular kind of data center model that is set up, run, and supervised by a third-party data center service provider. It offers capabilities and features similar to those of a typical data center but via a Managed Service Platform (MSP).

As per infrastructure integration, the network segment is to hold the largest market size during the forecast period.

The infrastructure integration segment is further sub-segmented into the data center, network, security, mobility, and others. As per infrastructure integration, the network segment holds the largest market size and is expected to grow from USD 40.6 billion in 2022 to USD 48.9 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 3.8%% during the forecast period.

Network service providers offer various services to monitor, maintain, and protect the network infrastructure of organizations while reducing network operating costs. New network business tools are released by vendors to link users in various locations and improve communication efficiency.

To operate tasks, such as data transfers and switches, network technology requires network management software. Infrastructure is still not complete without network administration, which ensures that the servers, cabling, and switches are coordinated and achieve the required outcomes.

For every industry, reliable and secure network infrastructure has become essential. To guarantee zero network outages and streamline network operations, organizations of all sizes, including SMEs and large corporations, invest extensively in network performance and monitoring solutions and services.

As per application integration, application testing to grow at the highest CAGR during the forecast period.

The application integration segment is further sub-segmented into application development, application testing, and application lifecycle management. As per application integration, application testing is expected to grow at the highest CAGR of 12.7% during the forecast period.

Applications are checked for accuracy, usability, and consistency during the application testing process, which helps find flaws throughout the entire program. Applications need to be tested for improved functionality after development and before implementation.

It involves a set of programmed manual, automated, or both techniques to reveal software application flaws. It covers every stage of a software program's functional testing. Such testing helps the team assess and enhance the program's quality while also reducing the organization's costs connected with software development ad testing. Application testing can take many various forms, including unit testing, integration testing, performance testing, and acceptability testing.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities for Players in North America It Services Market
4.2 Market, by Service Type (2022 Vs. 2027)
4.3 Market, by Deployment Mode (2022 Vs. 2027)
4.4 Market, by Organization Size (2022 Vs. 2027)
4.5 Market, by Business Function (2022 Vs. 2027)
4.6 Market, by Vertical (2022 Vs. 2027)
4.7 Market: Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increased Demand for Cloud Services
5.3.1.2 Rising Digitization Among Enterprises
5.3.1.3 Rising Complications in Connectivity
5.3.1.4 Growing Need for Risk Mitigation
5.3.2 Restraints
5.3.2.1 Privacy and Security Concerns
5.3.2.2 Increasing Number of Regulations and Compliance
5.3.3 Opportunities
5.3.3.1 Increasing Demand for Managed Services Among Smes
5.3.3.2 Exponential Growth in Ip and Cloud Traffic
5.3.3.3 Growing Demand for System Integrators
5.3.3.4 Growing Scope for Exploring Next-Generation It Technology in Bfsi and Healthcare Sectors
5.3.4 Challenges
5.3.4.1 Lack of Skilled Workforce
5.3.4.2 Increase in Vendor Lock-In Risks
5.3.4.3 Complexities Involved in Integrating It Infrastructure
5.4 Case Study Analysis
5.4.1 Ericsson Helped Newport Utilities Bring High-Speed Broadband to Rural Communities
5.4.2 Dxc Technology Helped Inail Fight Cyber Threats with Automation and Ml
5.4.3 Lumen Technologies Provided Refinitiv's Clients with Suite of Fully Managed Trading and Data Propositions
5.4.4 Citrix Enabled Autodesk Increase Digitization
5.4.5 Rackspace Technology Provided Zachry Corporation with Expertise and Support
5.5 Patent Analysis
5.6 Supply Chain Analysis
5.7 Ecosystem Analysis
5.8 Technology Analysis
5.9 Regulatory Landscape
5.10 Porter's Five Forces Analysis
5.11 Key Conferences & Events, 2022-2023
5.12 Pricing Analysis
5.13 Trends/Disruptions Impacting Buyers
5.14 Key Stakeholders & Buying Criteria

6 North America It Services Market, by Service Type
6.1 Introduction
6.1.1 Service Types: Market Drivers
6.2 Professional Services
6.2.1 System Integration Services
6.2.1.1 Application Integration Services
6.2.1.1.1 Rising Need to Bridge Gap Between Existing On-Premises Systems and Cloud-Based Enterprise Applications
6.2.1.1.2 Application Development
6.2.1.1.3 Application Testing
6.2.1.1.4 Application Lifecycle Management
6.2.1.2 Infrastructure Integration Services
6.2.1.2.1 Growing Demand for It Platforms
6.2.1.2.2 Data Center
6.2.1.2.3 Mobility
6.2.1.2.4 Network
6.2.1.2.5 Security
6.2.1.2.6 Other Infrastructure Integration Services
6.2.2 Training and Education Services
6.2.2.1 Rising Need to Ensure Hassle-Free Implementation of It Services
6.2.3 Consulting Services
6.2.3.1 Increasing Need to Decrease Complexity
6.3 Managed Services
6.3.1 Managed Services: Market Drivers
6.3.2 Managed Security Service
6.3.2.1 Rising Need to Protect Critical Assets from Cyberattacks
6.3.3 Managed Network Service
6.3.3.1 Increasing Demand for Managed Network Services Among Smes
6.3.4 Managed Data Center and It Infrastructure Service
6.3.4.1 Rising Demand for Better Storage and Processing Capabilities
6.3.5 Managed Communication and Collaboration Service
6.3.5.1 Growing Need for Transparent, Co-Managed Services for Cloud Collaboration
6.3.6 Managed Mobility Service
6.3.6.1 Rising Need to Assist It Decision-Makers in Selecting Hardware and Applications
6.3.7 Managed Information Service
6.3.7.1 Increasing Complexity in Business Processes
6.4 Telecom Services
6.4.1 Rising Demand for Accessibility and Reliability

7 North America It Services Market, by Deployment Mode
7.1 Introduction
7.1.1 Deployment Modes: Market Drivers
7.2 On-Premises
7.2.1 On-Premises Deployment Mode Enables Organizations Maintain Data Security
7.3 Cloud
7.3.1 Increasing Reliance of Organizations on It Assets to Enhance Productivity

8 North America It Services Market, by Organization Size
8.1 Introduction
8.1.1 Organization Sizes: Market Drivers
8.2 Small and Medium-Sized Enterprises
8.2.1 Increasing It Spending to Manage Business Operations
8.3 Large Enterprises
8.3.1 Growing Need to Digitalize and Upgrade Business Processes

9 North America It Services Market, by Business Function
9.1 Introduction
9.1.1 Business Functions: Market Drivers
9.2 Human Resource
9.2.1 Rising Need to Improve Employee Engagement and Optimize Hr Processes
9.3 Finance and Accounting
9.3.1 Efficient It Services Help Remove Redundant Tasks
9.4 Sales and Marketing
9.4.1 Growing Demand for Appropriate Tools to Achieve Outcome
9.5 Supply Chain Management
9.5.1 It Services Enable Timely Procurement
9.6 Operations and Support
9.6.1 Rising Need to Improve Productivity and Quality
9.7 Manufacturing
9.7.1 Growing Demand to Analyze, Access, and Share Large Amount of Information
9.8 Other Business Functions

10 North America It Services Market, by Vertical
10.1 Introduction
10.1.1 Verticals: Market Drivers
10.2 Government and Defense
10.2.1 Rising Demand for Transformation of Government Infrastructure
10.3 Banking, Financial Services, and Insurance (Bfsi)
10.3.1 Rising Need for Digital Transformation and Improved Customer Experience
10.4 Healthcare
10.4.1 Growing Demand for Tools to Support User Security
10.5 Media and Entertainment
10.5.1 Technological Innovations to Facilitate Personalized Services
10.6 Consumer Goods and Retail
10.6.1 Rising Use of Technology to Address Market Volatility
10.7 It and Telecom
10.7.1 Increased Use of Smartphones to Drive Mobility Solutions
10.8 Other Verticals

11 North America It Services Market, by Country
11.1 Introduction
11.1.1 Market Drivers
11.1.2 North America: Recession Impact
11.1.3 US
11.1.3.1 Increasing Number of It Cloud Service Providers
11.1.4 Canada
11.1.4.1 Rising Adoption of Cloud by It Service Vendors

12 Competitive Landscape
12.1 Introduction
12.2 North America It Services Market Evaluation Framework
12.3 Market Share of Top Vendors
12.4 Historical Revenue Analysis of Top Vendors
12.5 Evaluation Quadrant for Key Players, 2022
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Pervasive Players
12.5.4 Participants
12.5.5 Competitive Benchmarking of Key Players
12.6 Evaluation Quadrant for Startups/Smes, 2022
12.6.1 Responsive Companies
12.6.2 Progressive Companies
12.6.3 Dynamic Companies
12.6.4 Starting Blocks
12.6.5 Competitive Benchmarking of Startups/Smes
12.7 Competitive Scenario

13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 IBM
13.2.2 Hewlett Packard Enterprise
13.2.3 Accenture
13.2.4 Cisco
13.2.5 Wipro
13.2.6 Hcl Technologies
13.2.7 Cognizant
13.2.8 Infosys
13.2.9 Rackspace
13.2.10 Tcs
13.3 Other Players
13.3.1 Fujitsu
13.3.2 Capgemini
13.3.3 Ericsson
13.3.4 Huawei Technologies Co. Ltd.
13.3.5 Nokia Networks
13.3.6 Gtt Communications
13.3.7 Sap
13.3.8 Dxc Technology
13.3.9 NTT Data
13.3.10 Nec
13.3.11 Deloitte
13.3.12 Virtustream
13.3.13 Digitalocean
13.3.14 Bluelock
13.3.15 Navisite
13.3.16 Lumen Technologies
13.3.17 Infor
13.3.18 Opentext
13.3.19 Citrix
13.3.20 Ifs
13.4 SMEs/Startups
13.4.1 Inventive Works
13.4.2 Techmatrix
13.4.3 Mission Cloud Services
13.4.4 Optanix
13.4.5 Securekloud
13.4.6 Ascend Technologies
13.4.7 Essintial
13.4.8 Aunalytics
13.4.9 2nd Watch
13.4.10 Cloudnow

14 Adjacent/Related Markets

15 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/jqj8uj-america-it?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/the-north-american-it-services-industry-is-expected-to-reach-700-6-billion-by-2027-increased-demand-for-cloud-services-drives-growth-301730968.html

SOURCE Research and Markets

[ Back To Guided CX Forum's Homepage ]