IT Professional Services Market Size, Share & Trends Analysis Report By Type (Project-oriented Services, ITO Services, IT Support & Training Services), By Deployment, By Enterprise Size, By End-use, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global IT professional services market size was exhibited at USD 822.61 billion in 2022 and is projected to hit around USD 1,983.45 billion by 2032, growing at a CAGR of 9.2% during the forecast period 2023 to 2032.

Key Pointers:

• The project-oriented services segment accounted for the largest revenue share of 37.9% in 2022.
• The information technology outsourcing (ITO) service segment is anticipated to witness a significant CAGR of 9.11% during the forecast period.
• The cloud segment dominated the market in 2022 and accounted for a revenue share of 68.19%.
• The on-premise segment is expected to witness considerable growth of a CAGR of 7.8% over the forecast period.
• The large enterprises segment accounted for the largest revenue share of 63.13% in 2022. 
• The small & medium enterprises (SMEs) segment is expected to witness a significant CAGR of 11.3% over the forecast period. 
• The technology companies segment held the largest revenue share of 43.17% in 2022. 
• The marketing and communication companies segment is anticipated to grow at a CAGR of 10.5% over the forecast period.
• North America accounted for the largest revenue share of 37.9% in 2022
• The Asia Pacific is anticipated to witness a significant CAGR of 11.2% over the forecast period. 

IT Professional Services Market Report Scope

The growth can be attributed to the technology shift by small & medium enterprises (SMEs) to enhance their IT infrastructure, growing adoption of cloud computing, and increasing usage of advanced technologies such as machine learning, artificial intelligence, and robotic process automation (RPA). Market players are assisting various organizations in automating their business operations with these technologies. Furthermore, big data analytics technology combined with the internet of things (IoT) increases the overall productivity of IT professional services, contributing to the industry’s growth.

The growing adoption of cloud-based platforms across the globe is expected to drive the market growth. Established industry players are highly emphasizing on strategic partnerships with software companies to accelerate the business migration to hybrid cloud architecture. For instance, in December 2021, Software AG joined Cloud Modernization Center and IBM Z to assist IBM Z clients in modernizing their processes, data & applications through infrastructure software in hybrid cloud architecture. Moreover, in November 2021, Google Cloud and T-Systems International GmbH established a Co-Innovation Center for the development of cloud infrastructure in Munich. Google Cloud will invest around USD 1.4 billion in the program through 2032. These developments would further drive the industry’s growth during the forecast period.

Rapid advancements in advanced technologies, as well as the growing popularity of IT professional solutions, are encouraging a variety of businesses to enter the IT professional services market to expand their business. Startups in the IT professional services market place a high value on participation in funding rounds to raise funds and strengthen their brand presence. For instance, Atera, an Israeli remote IT management and professional services automation software company, raised USD 77 million in a Series B financing round led by K1 Investment Management and General Atlantic in July 2021. The funds will be used to expand the company's service offerings in automation software and business operations in untapped global markets.

IT Professional Services Market Segmentation