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Exclusive extracts from this 99-page-long report:
- What is the business?
IT services was a €823.2 billion (+4.3% yoy) industry in 2017. It comprises three main segments:
-Consulting, a market worth approx. €143.6 billion;
-Implementation and IT outsourcing, a market worth €460.3 billion;
-Business process management, hardware and custom software support, a €221.3billion market.
Geographically, North America is the largest IT services market with a 46% share (€371.8bn), followed by Western Europe (26%). Japan encompasses roughly 10% of global IT services spending. […]
- What are the main markets?
While traditional services associated with the upgrading/maintenance of legacy IT systems continue to decline, emerging technologies such as cloud computing, artificial intelligence, industrial automation, blockchain, and cybersecurity are opening new windows of growth for existing IT service providers, who are adjusting their portfolios (by setting up digital centers or making acquisitions) to new market demands. Moreover, the scope of the IT services market is expanding as an increasing share of the innovation budgets of Chief Marketing Officers (CMOs) and Chief Operating Officers (COOs) and/or Manufacturing Executives is spent on digital marketing and industrial automation (Industry 4.0). [...]
- How intense is competition?
Rivalry is intense in the IT services industry, with several types of large and small players competing for a bigger slice of the market. While IBM is, by far, the leading player by revenue, and is cementing its position in budding technology markets in line with its four “strategic imperatives” (data and analytics, cloud, mobile, social, and security), the rise of Amazon – whose cloud revenues topped €15.45bn in 2017, making it the #1 player in cloud ahead of its main rival, IBM, which reported cloud revenue of €15.05bn that same year – underscores the profound effects of technology. [...]