The Information Technology market continues to soar high. As the requirements and needs of people and workplaces continue to evolve, technology advancements continue providing appropriate systems.
IT service providers apply technical knowledge and expertise to let organizations make, manage and optimize information technology processes. The IT services market breaks down into computer systems, information technology careers, custom programming services, design services and other services that are computer-related.
INFORMATION TECH SERVICES MARKET
The United States is the biggest region in the IT services market last year. It accounts for about 40 percent market share. Furthermore, it is the biggest market because of the high demand for cloud and software development services coming from the automobile, manufacturing, and retail and oil gas industries in the area. The second biggest region was Europe, which accounts to 30 percent market share. The third biggest was Asia, accounting to a market share of around 27 percent. That is why information technology jobs abound.
THE LATEST SaaS SERVICE TREND
SaaS or software-as-a service in cloud was the latest trend observed in the IT market in 2016. In the last five years, cloud software solutions are gaining acceptance from organizations and enterprises across all industries. Cloud is a software delivery method in which a vendor will host a software app in a remote server and customers could access it via the internet. Cloud solutions are used widely in CRM or customer relationship management, project management, HR/payroll as well as accounting software systems. The IT global market report provides marketers, strategists and senior management with vital information they need for assessing the IT services sector.
THE BIGGEST, FASTEST GROWING MARKET FOR IT SERVICES
The IT global market report covers market size, growth, characteristics, segmentation, regional and country breakdowns, market shares, competitive landscape, strategies and trends for the sector. It traces the historic market and forecast growth by geography. It puts the market within context of the bigger IT market and compares it with other markets. The regional and country breakdown section of the report provides analysis of the market in every geography and market size by geography and compared the historic growth. Competitive landscape provides a description of the market’s competitive nature, the market shares and the leading companies’ description. Also, it shows key financial deals that have shaped the market recently.
THE TECHNOLOGY SPACE IS CHANGING AT LIGHTNING SPEED
The technology space is changing at amazing speed indeed. Furthermore, anticipating new developments could be a challenge. While there’s no crystal ball, the tremendous investment in research in the industry is a great indicator that soon the world will witness the emergence of platforms and ecosystems, which deliver an entirely new level of opportunities and value for tech professionals.
OPPORTUNITIES FOR GROWTH
The growth story of technology long has focused on the consumer, and this story continues. However, as enterprises in each and every industry sector look to technology to facilitate their transformations, the chances for technology organizations have considerably widened. Some major takeaways include:
1. Exponential technologies that include robotics, augmented and virtual reality, artificial intelligence, 3-D printing are opening up considerable areas of opportunity.
2. Cognitive technologies like natural language processing, machine learning, speech and pattern recognition, which are embedded in software apps that imbue big data with superior capacities.
3. Blockchain, the digital currency bit coin foundation. It has huge implications not just for the financial services industry but also for any company managing a huge amount of transaction data.
4. Anything as a service offerings, the ones that enable usage-based consumption will likely emerge.
5. Cyber security services and products are another area that has a bright future.
6. The IoT has just started to reveal its promise.
WHAT BUSINESSES SHOULD KNOW AS THEY PLAN FOR GROWTH
Leveraging the big promise for the tech industry successfully, and making certain a company has attractive offerings which fit within a bigger ecosystem would depend on a lot of factors. One of the most significant methods of achieving this is for tech companies to transform their business models to accommodate the changing demands of customers. Some key takeaways are:
With the latest report on the IT global market, opportunities abound as the exponential technologies come to market. Organizations and businesses would likely need to change some of the ways that they do business.