North America IT Services Market Expected to Reach 261.5 Billion USD by 2021

As per report “North America IT Services Market by Type (Professional, Managed, and Telecom), Deployment Type (On-Premise and Cloud), Organization Size (SMBS and Enterprises), Business Function, and Industry Vertical – Global Forecast to 2021”, the North America IT services market size is estimated to grow from USD 175.2 Billion in 2016 to USD 261.5 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 8.3%.

 

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The shift from on-premises to cloud storage, growing IT complexities, increased spending on IT activities to support the core activities, and increased adoption of IT services by small and medium-sized enterprises are some of the major factors driving the North America IT services market.

Professional IT services has created vibrant prospects for the marketers and is expected to hold the largest market size during the forecast period.

The professional IT services sector encompasses service types that include system integration, training & education, and consulting. The professional IT services sector is anticipated to dominate the North America IT services market in the coming years, considering the increasing demand for consulting, system integration, and support & maintenance services due to the complexities associated with the advanced and complex IT infrastructure. Companies have been adopting professional IT services to meet their specific demands for IT infrastructure management.

Cloud deployment type is projected to grow the fastest during the forecast period.

In the recent years, the cloud services segment has been gaining high demand in the market due to its cost benefits over on-premises deployment type. Furthermore, tremendous digital data generated and constraints over storage space have played a major role in driving the adoption of cloud deployment. Moreover, flexibility and on-demand IT services are another vital factors that are likely to aid the cloud deployment type in the North America IT services market.

Digitization in different industry verticals is expected to create a remarkable potential for the IT services in the North America IT services market.

The North American region comprises developed countries that have a deep-rooted infrastructure, thus favoring the adoption of IT services in the region. The U.S. holds the largest IT services market share in North America. Fast technology adoption, presence of large enterprises, and high investment in technology are some of the major factors contributing to the North America IT services market in the U.S. Furthermore, the concentration of IT companies in the country adds to the dominance of the North America IT services market in the U.S. However, Canada is anticipated to create promising opportunities for IT services vendors in the coming years due to enterprises’ shift towards the adoption of advanced IT solutions.

The major vendors in the North America IT services market include IBM Corporation (U.S.), HP Enterprise (U.S.), Accenture PLC (Ireland), Infosys (India), Wipro Limited (India), Cognizant Technology Solutions Corporation (U.S.), HCL Technologies Limited (India), Oracle (U.S.), Tata Consultancy Services (India), Tech Mahindra (India), Fujitsu (Japan), Capgemini (France), NTT Data (Japan), Nokia Networks (Finland), Ericsson (Sweden), Huawei Technologies Limited (China), Hitachi Consulting (U.S.), Unisys Corporation (U.S.), and Dimension Data (South Africa).

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