IT Services Market Size, Share & Trends Analysis Report to 2030

The global IT services market size was valued at USD 1.50 trillion in 2024 and is projected to grow at a CAGR of 9.4% from 2025 to 2030. The IT services industry is experiencing rapid growth, fueled by factors such as the widespread adoption of cloud computing and digital technologies, the surging demand for cybersecurity solutions, and the emphasis on innovation and automation. Increasing concerns regarding data security and privacy protection drive the demand for IT services from companies across various industry verticals. The market is driven by trends such as the increasing use of artificial intelligence and machine learning, the rising demand for data analytics and big data solutions, the focus on IoT and connected devices, and the need to comply with data privacy regulations.

The shift towards remote and hybrid work models has created a demand for IT solutions that support these new operational structures, leading to increased demand for tools and infrastructure from IT companies. Cloud computing has also seen substantial growth as businesses migrate their operations to cloud platforms, necessitating IT services to manage and secure these environments. Furthermore, the rise in cyber threats has spurred a higher demand for cybersecurity services as businesses seek to safeguard their data and systems from potential threats. For instance, Microsoft invests approximately USD 1 billion each year in cloud security, demonstrating its commitment to enhancing cybersecurity measures. Overall, these trends have accelerated the adoption of IT services and technology solutions, driving growth in the IT services industry.

In addition, the increase in IT expenditure, with the widespread adoption of software-as-a-service and the growing availability of cloud-based solutions, is driving the demand for the market. These services have increased the efficiency of business processes while allowing firms to concentrate on their core competencies without worrying about the installed IT infrastructure. Businesses use IT services for various purposes, from standard chores such as handling employee records to complex corporate processes such as supply chain and operations management.

Key IT Services Company Insights

The global IT services industry features several key players who shape its landscape. Amazon Web Services, Inc. offers comprehensive cloud computing solutions. Microsoft provides cloud, AI, and cybersecurity services through Azure. IBM Corporation specializes in enterprise IT services, including AI and blockchain. Meanwhile, Cisco Systems, Inc. focuses on networking and cybersecurity, helping organizations build secure IT infrastructures. These companies play a significant role in shaping the IT services industry.

• IBM Corporation is a multinational technology company that provides a wide range of IT services, including cloud computing, data analytics, and artificial intelligence. IBM offers infrastructure, hosting, and consulting services, with key areas of focus in analytics, AI, automation, blockchain, and cybersecurity. The company supports various industries such as automotive, banking, healthcare, and retail, helping them modernize applications and streamline operations through technology consulting and digital transformation initiatives.
• Microsoft is a technology company that offers a suite of IT services, primarily through its Azure platform. Microsoft Azure provides cloud computing, AI, and cybersecurity solutions, supporting businesses in their digital transformation journeys. The company's services include cloud-based productivity tools such as Microsoft 365 and cloud gaming through Xbox. Microsoft's cloud offerings compete with other players in the IT services industry, focusing on scalability, security, and innovation

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Key IT Services Companies:

The following are the leading companies in the IT services market. These companies collectively hold the largest market share and dictate industry trends.

• Amazon Web Services, Inc.
• Avaya
• Cisco Systems, Inc.
• DXC Technology Company
• Fortinet, Inc.
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Juniper Networks, Inc.
• Microsoft
• Broadcom (Symantec Corporation)
• Oracle

Recent Development

• In March 2025, DXC Technology, a leading global technology services provider, was selected by Parfois Group, a prominent Portuguese fashion brand, to enhance customer experience through personalized, data-driven recommendations. This partnership reflects Parfois' commitment to innovation and aligns with its global Data Intelligence strategy. By leveraging data insights, Parfois aims to tailor shopping experiences and offer relevant product recommendations, thereby improving operational efficiency and customer satisfaction.
• In March 2025, AWS announced the general availability of multi-agent collaboration for Amazon Bedrock, enabling developers to create networks of specialized AI agents that work together under the guidance of a supervisor agent. This capability facilitates the handling of complex, multi-step workflows by breaking them down into manageable tasks that can be executed in parallel, thereby enhancing the scalability and efficiency of AI-driven applications.
• In May 2024, Tata Consultancy Services (TCS) and CrowdStrike formed a strategic partnership to enhance TCS's XMDR services using the AI-native CrowdStrike Falcon XDR platform. This collaboration allows TCS to utilize the Falcon platform's robust security capabilities, including cloud security and next-generation SIEM, to drive an AI-driven transformation of its Security Operations Centre (SOC). This transformation aims to significantly improve breach prevention capabilities, providing enhanced protection against sophisticated cyber threats.

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