We see the companies in this report as disruptors in the space due to the rising adoption of smart technologies and increasing demand for professional services.
The report highlights several trends that global leaders are executing on – we expect to see a divergence in financial performance and market share between those making aggressive investments and expansion in technology now and those who hesitate.
- Extensive market growth: The IT services market is expected to grow at a CAGR of 10.4% during 2022-27 due to increased IT spending, widespread adoption of SaaS, and increased cloud-based offerings
- Advanced technologies integration would impact the service offerings: 5G, robotic automation, blockchain, and AI can provide sales, distribution, and channel executives with insight, and better visibility across their supply chain, logistics, and channel operations
- Building the next iteration of the hybrid workforce: creating an equivalence between in-person and virtual work, driving purposeful engagement, and establishing rules on how and when to co-locate will create a balance between at-home experience and the in-office one
- Increasing demand for developing smart IT services and platforms to analyze the data for extraction & analysis: The volume of data created globally is expected to increase to 47 zettabytes and 163 zettabytes in 2020 and 2025, respectively, from 12 zettabytes in 2015
- Highly competitive market: IT services market is highly competitive and consists of a few dominating major players. With the advancement in IT consultancy services, new players are increasing their market presence, thereby expanding their business footprint across the emerging economies