Global Information Technology Market was valued at US$ 300 Bn in 2019 and is expected to reach US$ 900 Bn by 2026, at a CAGR of 14.72% during the forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Information technology (IT) industries are dealing with the application of computers, computer peripherals, and telecommunications equipment to store, retrieve, transmit and move data. It contains broadcasting, computer networking, systems design services, and information distribution technologies like television and telephones.
Internet of Things (IoT) was the latest development observed in information technology services as of 2017. IoT is the network of physical objects like vehicles, devices, buildings, and other items that are surrounded by electronics, sensors, software, and network connectivity that allows these objects to collect and exchange data and have various applications. For example, Microsoft and Rolls-Royce have announced a partnership centering on future Rolls-Royce intelligent engines, which will be integrating Microsoft Suite into its service solutions to develop its digital skills.
The information technology service market is comparatively concentrated, with a number of big, global players. Around 30% of the total market share in 2016 is made top five competitors in the market. IBM is the largest competitor, followed by Accenture, HPE, Microsoft, and SAP.
Previously, software publishers would open-source software that was not making money, but to increase its presence and share in the market, now companies are open sourcing software. Open-Source Initiative, 78% of companies are using open-source solutions and 64% are contributing to open-source projects indicating a rise in open-source software platforms to build applications.
Global Information Technology Market Report provides policymakers, marketers, and senior management with the acute information they need to consider the global information technology market.
Enterprise IT security is a continuous challenge for IT leaders, Companies are working in a relentless and dynamic technology environment which puts all their digital properties at risk. Globally, cybercrime networks are worth $100 billion, which’s twice as much as companies spend on protecting their information resources. Keeping that things in mind, what are the most important challenges for IT leaders to mitigate this threat?
The Asia Pacific was the largest region in the information technology market in 2017, accounting for around 40% market share. North America was the second-largest region which was holding around 25% market share, and Africa was the smallest region accounting for around 2% market share.
Key players operating in the market include Fujitsu, HP, Accenture, IBM, TCS, NTT Data, Oracle, CapGemini, CSC, SAP, AT&T, Apple, Verizon Communication, China Mobile, Microsoft, Amazon, Hewlett-Packard, Google, Comcast, Intel.
Scope of the Global Information Technology Market:
Global Information Technology Market by Type:
• IT Services
• Software Publishers
• Computer Hardware
Global Information Technology Market by Application:
• Retail And E-Commerce
• Government And Defense
Global Information Technology Market by Geography:
• North America
• Latin America
• Middle East & Africa
Key Players Operated in Market Include:
• NTT Data
• Verizon Communication
• China Mobile
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