Global IT Services Industry
The world software and services market exceeded $2.35 trillion in 2010, according to research from MarketLine. Market growth is expected to slow to just over 7% yearly until 2015 to reach almost $3.31 trillion. Within the overall industry, IT services make up the leading market segment, and reached almost $1.12 trillion in 2010 for nearly 48% of overall industry value.
On its own, the world IT services industry is expected to record yearly growth of 4% between 2010 and 2014, reports TechNavio. Market growth is driven by rising numbers of smaller IT consulting outfits. Cloud computing is also driving market expansion as a prime service delivery channel.
Information Technology Services Key Market Segments
The world IT consulting and related services industry reached almost $516 billion in 2010, reports MarketLine. The market recorded yearly growth of almost 4% between 2006 and 2010. Market expansion is expected to slow to a yearly rate of just over 2.5% until 2015 to reach close to $588 billion. Integration and development services represent the leading segment, exceeding $254 billion in 2010 to account for close to 50% of overall market value.
The world cloud computing services industry is expected to reach $127 billion in 2017, reports Global Industry Analysts. The IT hosting market is being fuelled by cloud strategy use across small and medium-sized businesses, enterprise mobility and business continuity. Cloud computing is being increasingly adopted by companies in the recovery phase following the economic recession. Companies yet to adopt cloud computing will likely follow suit as other enterprises make the shift from virtual machines to cloud.
The world infrastructure-as-a-service industry is forecast to record 28% yearly growth between 2010 and 2014, reports TechNavio. Market growth is fuelled by organizational IT service spending cutbacks and updating security softwares instead of buying new ones. Unease regarding data security in the context of cloud computing represents the main obstacle to market growth. Key players operating in this market include CenturyLink-Savvis, Rackspace, Verizon-Terremark and Amazon EC2.
The world IT integration market is expected to reach almost $340 billion in 2017, according to Global Industry Analysts. Market growth will be fuelled by the optimization and consolidation of applications in the business sector, demand for integrated IT solutions and an increasingly layered IT framework. The market is set to witness increasing enterprise application software systems demand.
The global IT outsourcing market continues to record strong growth. The world data center infrastructure management software market is expected to expand by more than 30% between 2010 and 2014, reports TechNavio. Obstacles to this market include the option of open source infrastructure management software. Key market players include iTRACS, Vigilent, Software, Sentilla and Power Assure.
The European, Middle East and Africa data center outsourcing market is expected to record yearly growth of over 11% between 2010 and 2014, reports TechNavio. Market growth will be boosted by spending cutbacks in data center solutions and rising demand for green data center establishments. Data security will be of vital importance moving forward, and could hinder market growth. Leading names operating in the market include IBM, T-Systems, Computer Science Corporation and Hewlett-Packard.
The world enterprise server virtualization industry is forecast to exceed 30% yearly growth between 2010 and 2014, according to research from TechNavio. Market expansion is being fuelled by tightening server infrastructure budgets. Key players operating in the global enterprise server virtualization market include Citrix Systems, VMware and Microsoft.