North America IT Services Market worth $660.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Dec. 3, 2021 /PRNewswire/ -- According to a research report "North America IT Services Market with COVID-19 Impact Analysis, by Service Type (Professional Services, Managed Services, and Telecom Services), Organization Size, Deployment Type, Business Function, and Vertical - Forecast to 2026", published by MarketsandMarkets™, the North America IT Services Market size is expected to grow from USD 459.2 billion in 2021 to USD 660.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
The flexibility and agility of IT Services models would support the IT service needs of enterprises. The leading CSPs/hyperscalers—IBM, Hewlett Packard Enterprise, Accenture, CISCO, and Wipro—are expected to increase their CAPEX primarily for data center expansion to support the increasing workload for their internal and external stakeholders. The increasing volume of data generation in websites and mobile apps, rising focus on delivering customer-centric applications for driving customer satisfaction, and growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are a few factors driving the growth of the emerging technologies. The emerging technologies, such as big data, Artificial Intelligence (AI), and Machine Learning (ML), are gaining traction which is ultimately leading to the growth of the cloud computing market, globally.
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Growth of Professional services to be driven by increasing need of Small and Medium-sized Businesses (SMBs) to distribute or manage enterprise workloads
The key features of Professional services include provision of System Integration, increasing demand for Consulting services, Training and Education sector. These services are generally required by enterprises to effectively deploy new applications and solutions in the existing IT infrastructure. The ever-changing business environment and customer demands encourage enterprises to increase their focus on their core business operations. IaaS enables enterprises to leverage their IT infrastructure without paying for the constructio of the physical infrastructure. Moreover, it provides flexibility, mobility, easy, and scalable access to applications, and enhanced collaboration to help enterprises focus on their core businesses.
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US to dominate the IT Services market in 2021
North America is a mature market in terms of IT Service offerings adoption, owing to a large presence of enterprises with advanced IT infrastructure and the availability of technical expertise. The US (majorly) and Canada are the top countries contributing to the growth of IT Services market in North America. Healthcare, followed by Government and Defense verticals have the largest market share in the market. As the benefits of adopting IT services are becoming more evident, more companies are expected to implement IT services and provide effective and enhanced support.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the global cloud computing market. The IT Services market includes major vendors, such as IBM (US), Hewlett Packard Enterprise (US), Accenture (Ireland), CISCO (US), Wipro (India), HCL Technologies (India), Cognizant (US), Infosys (India), Rackspace (US), Tata Consultancy Services (India), Fujitsu (Japan), Capgemini (France), Ericsson (Sweden), Huawei Technologies Co. Ltd. (China), Nokia Networks (Finland), GTT Communications (US), SAP (Germany), DXC (US), NTT DATA (Japan), NEC (Japan), Deloitte (UK), Virtuestream (US), DigitalOcean (US), Bluelock (US), Navisite (US), CenturyLink (US), Infor (US), Opentext (Canada), Citrix (US), IFS (Sweden).
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