US +1 424 253 0946 UK +44 203 239 8187 Healthcare Aerospace & Defence Agriculture Automations Chemicals & Advanced Materials Food & Beverages Information & Communication Technology Oil & Gas Power & Energy Semiconductor & Electronics Biotechnology Building and Construction Automotives The global IT industry continues to show growth year after year, with the software market expanding at a whopping 8% per annum. Healthcare IT Market size was valued at more than USD 261 billion in 2021 and is primed to grow at over 14% CAGR from 2022 to 2030. The technology industryor at least its largest playerswill likely continue to close the gender gap in the year ahead. The domestic market, according to NASSCOM, grew by 24 per cent. Findings of the survey conducted by NASSCOM indicate that the total value of outsourcing to India ($ 17.2 billion in 2004- 05) is as much as 44 per cent of the worldwide total. Much like AI, IoT is found practically anywhere in the modern world. "Emerging tech", which includes fields like IoT software, big data/analytics, AR/VR, etc., is expected to see the most growth, with forecasts suggesting that the sector will grow by 104 percent. According to Gartner estimates, IT spending in India is expected to increase to US$ 101.8 billion in 2022 from an estimated US$ 81.89 billion in 2021. The global IT asset management (ITAM) software market was valued US$ 955.6 Mn in 2019 and expected to grow at a CAGR of 6.9% over the forecasted period 2019-27. Additionally, the market growth can be attributed to the advent of fourth industrial revolution and expansion of IIoT. Pixabay/Public Domain. Lucintel, a leading global management consulting and market research firm, has analyzed the global IT services market and presents its findings in "Global IT Services industry Market 2012-2017: Industry Trend, Profit, and . Largest contributor in this industry is the US which represents 32% of the total, or approximately $1.7 trillion for 2020. The export revenue from this industry (excluding e-commerce) has been estimated at close to $ 178 bn in FY2022. The market is. Population growth - Wikipedia. Australia's IT spending growth rate fell behind the global average, which Gartner has projected to total US$4.2 trillion in 2021, an increase of 8.6 per cent from 2020. In terms of FDI inflow, the computer software and hardware sectors attract the second highest FDI. After the speed bump of 2020, the industry is returning to its previous growth pattern of 5%-6% growth year over year. Mar 18, 2022 In 2021, the global information technology (IT) industry's growth could be impacted positively by reaching new customer segments, whereas continued COVID-19 effects would still. Population growth is the increase in the number of people in a population.Global human population growth amounts to around 83 million annually, or 1.1% per year. It is estimated that by 2030, global data will be growing by one yottabyte every year. The MarketWatch News Department was not involved in the creation of this content. Globally, the increased IT spending, coupled with the widespread adoption of software-as-a-service and increased cloud-based offerings, indicates the demand for IT services in the industry. Mark Haranas. 67 billion US dollars in 2008-09 to 191 billion US dollars in 2019-20. In India, the IT industry contribute 7.9% of the GDP The global information technology market is expected to grow from $7850.57 billion in 2020 to $8370.95 billion in 2021 at a compound annual growth rate (CAGR) of 6.6%. Deloitte Global predicts that large global technology firms, on average, will reach nearly 33% overall female representation in their workforces in 2022, up slightly more than 2 percentage points from 2019 (figure 1). Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4% from 2021, according to the latest forecast by Gartner, Inc. "This year is proving to be one of the noisiest years on record for CIOs," said John-David Lovelock, distinguished research vice president at Gartner. Here's the projected spending growth rate and dollars . The global IT Training market size will reach USD 12190 million in 2028, growing at a CAGR of 6.8% over the analysis period. . The IT industry is also impressively robust. The war between these two countries has led to economic sanctions on . Home Reports Global IT Market - Industry Analysis, Growth, Share, Size, Trends, Key Regions And Forecast 2028. The global airline industry market is projected to grow at a CAGR value of 25.5% from 2022 to 2027. According to the United States Department of Health and Human Services, healthcare IT is defined as the application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of healthcare information, data, and knowledge for communication and decision-making. The global IT industry forecasted to reach $5.2 trillion in 2020 which is almost 3.7% growth rate. The market is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, exhibiting a CAGR of 13.4% during the forecast period. Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis. Revenue Growth 2019-2020: 11.8%. The Global IT Services Market size is expected to reach $1123.57 billion by 2026, growing at a CAGR of 8.02% during 2021-2026. The global IT industry is projected to reach $5.2 trillion in 2020, with global spending growing 3.7% "Geopolitical disruption, inflation . Communication services, which accounted for $23.6 billion of the $102 billion total, are also expected to contract this year by 0.4 per cent, again a slower rate than in 2020. The global healthcare IT market is projected to reach USD 821.1 billion by 2026 from USD 326.1 billion in 2021, at a CAGR of 20.3% during the forecast period. Global IT Outsourcing Market Growth, Share, Size, Trends and Forecast (2022 - 2028) In the year 2021, the Global IT Outsourcing Market was valued at USD xx.x million. The market is forecast to reach an estimated US $1,147 billion in 2017 with a CAGR of more than 5% during 2012-2017. The revenue is further expected to grow in the coming years with an accelerating growth rate and expected to reach 350 billion US dollars by 2025. The global IT Support Services market research study examines the market's size, share, segmentation, revenue, geographic areas, and forecasts through 2029 in great detail. According to the study, the IT services sector will grow by 8.2% per year between 2015 and 2019; the software sector is expected to increase to 7.2% per year, while the hardware industry is expected to grow less: 3.2% every . The global IT services market grew from $3,471.35 billion in 2021 to $3,938.75 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The three components of the IT sector in Poland we mentioned before showed some exciting prospects in a Euromoney survey. The industry's leading producers are . The worldwide airline sector is expected to grow in the next few years, owing to rising disposable income, rapidly growing middle class, and increased travel demand. Market overview,. Table 1. The United States is the largest tech market in the world, representing 33% of the total, or approximately $1.8 trillion for 2022. The global IT professional services market size was valued at USD 777.28 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. Worldwide IT spending is projected to total $3.9 trillion in 2021, an increase of 6.2% from 2020, according to the latest forecast by Gartner, Inc. Worldwide IT spending declined 3.2% in 2020 as CIOs prioritized spending on technology and services that were deemed "mission-critical" during the initial stages of the pandemic. The IT-BPM industry's (excluding e-commerce) total revenue stood at $227 bn in FY2022. ET Increased use of digital gadgets and smart-phones will boost 5G's market growth. The global cyber security market was valued at USD 139.77 billion in 2021. The management consultants industry has been steadily growing since the past decade globally. IT Consulting Service Market Global Industry Analysis by Size, Share, Growth Opportunities, Trends and Forecast 2022 - 2026 Published: Sept. 22, 2022 at 3:35 a.m. The global information technology market grew from $8,384.32 billion in 2021 to $9,358.51 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global COVID-19 pandemic has been unprecedented and staggering, with security solution experiencing higher-than . Get more details on this report - Request Free Sample PDF With recent integration of advanced technology in healthcare, information technology (IT) has become a vital . Company DescriptionIllinois Tool Works Inc. (NYSE: ITW) is a global Fortune 200 diversifiedSee this and similar jobs on LinkedIn. The growing popularity of cloud based software and rising concerns. According to our (LP Information) latest study, the global IT Training market size is USD million in 2022 from USD 7668 million in 2021, with a change of % between 2021 and 2022. At the start of 2022, many of these issues remain front and center for technology companies, with one important difference: Leaders now have an opportunity to address these challenges more deliberately and purposefully. The convergence of hardware, software and services is creating new markets, and we are witnessing a global paradigm shift from hardware to software. The global population has grown from 1 billion in 1800 to 7.9 billion in 2020. The market is expected to. The market size (especially export) of the IT industry has grown manifold from approx. Its timely transition to remote working environments assisted in maintaining . This share is expected to increase to ten percent by 2025. which is fuelling the IT spending market growth. . Posted 4:37:05 AM. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global software & services spend stood at $1.7 trillion in 2021, growing at 8.7%. Global IT Portfolio Analysis Software Market Analysis to 2030 is an in-depth and specialized study that focuses on global business trends analysis. Instead of managing an immediate crisis, they can lay solid foundations for future innovation and growth. The global Information Technology industry encompasses the sectors of hardware, software and services, telecom, and emerging tech including 'as-a-service' solutions under the umbrella of the Internet of Things (IoT) and automating technologies. The ICT industry is expected to grow 3.8% in 2015 over 2014 according to the International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. The global IT retail market recorded nearly $63.9bn (eds: 57bn) in the first half of 2021 (excluding North America). Though 2014 and 2020 were full of challenges and uncertainties, the IT sector managed to achieve a double-digit growth rate and attained revenues of USD 108 billion in the fiscal yearThe industry amounted to 8% of India's GDP and registered 138,000 new hires in 2020. Following years of growth, ICT spending will remain relatively flat in 2020 due to the COVID-19 pandemic. It persevered through the U.S. economy's slow recovery, growing from an annual value-add of $835 billion in 2008 to $1,480 billion in 2017an . ITL World has also consecutively been rated as the 5th most powerful Travel Management Company in the Middle East amongst several other industry recognitions. Furthermore, the price of jet fuel is expected to stay relatively stable over . According to National Association of Software and Service Companies (Nasscom), the Indian IT industry's revenue touched US$ 227 billion in FY22, a 15.5% YoY growth. According to NASSCOM, the industry is expected to register a growth of 30 to 32 per cent in the near future. Around 35-38% of tech organizations are likely to improve or enhance their IT operations and infrastructure due to the COVID-19 outbreak. By 2020, each person had an average of four connected devices and by 2030, we'd have 15 devices each. Based on our analysis, the global market exhibited a significant growth of 11.2% in 2020 as compared to year-on-year growth during 2017-2019. By investing in cloud software to cut costs, companies avoid political and economic risks. View Global Tech Industries Group, Inc.'s Industry trends, charts, and more. The growing popularity of cloud based software and rising concerns of . Industry Growth Insights published a new data on "IT Market". Industry Overview. BFSI segment is foreseen to lead. Worldwide IT spending will hit $4.47 trillion in 2022, according to new data from Gartner. The global economy has moved into a growth trajectory after the pandemic decelerated economies. Gartner forecasts that the IT services segment - which includes consulting and managed services - is expected to have the second highest spending growth in 2022, reaching $1.3 trillion, up 7.9% from 2021 (see Table 1). This report provides a comprehensive. Abstract: - Global SMB IT Spending Market to Reach $823.9 Billion by 2027. ITL World | 10,071 followers on LinkedIn. However, IDC estimates that global IoT spending will be back on track for a double-digit growth rate in 2021, to mount a CAGR of 11.3% over the 2020 to 2024 forecast period. While traditional ICT spending is forecast to broadly track GDP growth over the next decade, the overall industry will be catapulted back to growth of more than 2x GDP as new technologies begin to account for a larger share of the market. Explore detailed TOC, tables and figures of Global It Industry. The size of this market is expected to increase to USD xx.x million by the year 2028, while growing at a Compounded Annual Growth Rate (CAGR) of x.x%. Despite this global crisis, the revenue of the IT Industry was calculated at around USD 190 Billion for 2020-21, and it is expected to reach around USD 300-350 Billion by the year 2025. The research report is titled " . The market is projected to grow from USD 11.84 billion in 2021 to USD 26.18 billion in 2028 at a CAGR of 12.0% during the 2021-2028 period. 1 . In 2019, Deployment of IT for network management have become the best practices to bring and automate all business operations into a single and simple solution. 9. The base year considered for the study is 2020, and the market size is projected from 2020 to 2028. The global Fast Fashion market size is projected to reach US$ 260930 million by 2028, from US$ 210190 million in 2021, at a CAGR of 3.1% during 2022-2028. The report has covered the regional analysis for the Americas, Asia Pacific & Oceania, Europe and Middle East & Africa. The research team projects that the IT market size will grow from XXX in 2020 to XXX by 2028, at an estimated CAGR of XX. Report Scope This latest report researches the industry structure, revenue. Global Information Technology Market Trends, Statistics, Growth, and Forecasts The global information technology market will grow at over 3.5% supported by the double-digit growth in emerging technologies. Also, it is expected to reach a value of $8 trillion by 2022. Emergence of 5G, Blockchain, AR, and AI . The Global IT Services Market size is expected to reach $1123.57 billion by 2026, growing at a CAGR of 8.02% during 2021-2026. Looking forward, IMARC Group expects the market to reach US$ 87.3 Billion by 2027, exhibiting at a CAGR of 3.9% during 2022-2027. Business and technology consulting spending, specifically, is expected to grow 10% in 2022. Global Tech Industries's industry is Capital Markets. Global Offshore IT Services Market: By Type of Industries Served Based on the type of industries serving, the market has been categorized as BFSI, healthcare, education, travel and hospitality, telecom, retail & e-commerce, logistics, media & entertainment, and others. The global software products market is expected to grow from $930.93 billion in 2020 to $968.25 billion in 2021 at a compound annual growth rate (CAGR) of 4%. The prime objective of this report is to help the user understand the market in terms of its definition, segmentation . IT services' growth lags behind only enterprise software, which Gartner forecasts to expand by 11%. [129 Pages Report] Check for Discount on Global IT Spending in Transportation Industry Research Report, Growth Trends and Competitive Analysis 2022-2028 report by QYResearch Group. Global IT Services Market size is expected to reach $1123.57 billion by 2025, growing at a CAGR of 8.02% during 2020-2025. The global IT spending market attained a value of around USD 3.5 trillion in 2020 and expected to grow in the forecast period of 2022-2027 at a CAGR of nearly 3.5% to reach USD 4.3 trillion by 2026. . Gartner's worldwide spending forecast, released this week, anticipates 7.9% year-over-year growth for IT services in 2022. The stay-at-home trend remains relevant and double-digit growth rates are observed across IT hardware and accessories. India's digitally skilled pool has grown over the period and accounted for around 75 percent of global digital talent. October 21, 2021, 01:05 PM EDT. According to Data Report January 2022 estimates, 5.31 billion individuals globally are unique mobile phone years and approximately 4.95 billion individuals are internet users. Management Consultants. As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of . According to the reports published by Next Move Strategy Consulting, the Global 5G Technology Market size has been valued at USD 5.53 billion in 2020 and shall witness an elevation of USD 620.72 billion by 2030, with a growing CAGR of 58.6% from 2020-2030. Oct 14, 2022 (The Expresswire) -- The global Handheld Surgical Instrument market size was USD 3928.5 million and . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. With an improved IT infrastructure, threats related to data (data breaches) are also on the rise. The global IT training market reached a value of US$ 70.2 Billion in 2021. Forecast Overview. The global toys market reached a value of US$ 156.5 Billion in 2021. The global IT services market is expected to reach $1.3 trillion this year. global economic growth, world over. This was a +27% increase from the same period last year. The growth in this market is mainly driven by government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with . Expanding healthcare industry across the globe will push global market growth. Travel Management Company | ITL World is a leading award winning Travel Management Company with fully owned and operating offices across the GCC, India & Far East. Its largest playerswill likely continue to close the gender gap in the short term to ten percent by which! 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