HPC in the Cloud: Global Information Technology Services Market to Reach US$1.2 Trillion by 2015, According to New Report

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February 10, 2012

Global Information Technology Services Market to Reach US$1.2 Trillion by 2015, According to New Report

SAN JOSE, Calif., Feb. 10 — Global Industry Analysts, Inc. (GIA) announces the release of a comprehensive global outlook on the Information Technology Services Industry. Resurgence in global IT industry, led by the rebound in economic activity, is expected to enhance demand for services such as system integration services and IT consulting across various verticals. Cloud computing services and green IT services are the major growth drivers for the global IT services industry.

Information Technology (IT), representing the convergence of computer and communications, revolves around the use of myriad technologies ranging from computing techniques and electronics to telecommunications, for managing, processing, transmitting, protecting, and securely retrieving valuable information in a digital form. With business operations becoming increasingly global, in terms of partners, suppliers, technology, clients and labor, the IT services is emerging as a dynamic sector with greater degree of innovation and application of high-end technology.

Though the IT services sector was significantly affected by the global economic meltdown, the market recovered and posted growth in 2011. The recession significantly affected investments in project services due to either cancellations or postponements, as businesses re-directed their efforts on core business operations. However, the recession had minimal effect on demand for outsourcing services. Improving economic conditions and pent-up demand are expected to drive growth in the industry through 2015. The increasing adoption of cloud technology and software-as-a-service is emerging as a major driving factor for the market's growth. Among the various segments, software support sector witnessed highest user spending, followed by development and integration sector and consulting sector. Among regional markets, India-based IT vendors continue to enhance presence in the global arena.

Cloud computing is creating ripples across the IT industry. Cloud computing is expected to witness robust growth propelled by the technology's widespread adoption and the emergence of innovative applications. The technology is expected to revolutionize enterprise computing and the use of hybrid cloud strategies such as platform as a service (PaaS) and software as a service (SaaS) in conjunction with internal applications is expected to bolster IT's role as a key growth driver of businesses. In addition, cloud computing is expected to be extensively used to deliver solutions that are more flexible and feature enhanced functionality. Cloud computing concepts such as multi-tenancy, pay-for-use, and external services, continue to gain strength largely due to macroeconomic factors. The recession has forced organizations across the world to scrutinize all types of expenses, whereby the search for IT solutions offering functionality at lower costs has gained momentum. In the future, cloud computing's adoption among enterprises would be driven by the need to eliminate IT management issues. However, the growing use of cloud computing and the Internet is expected to enhance focus on security and privacy. The US is the leading market for cloud computing services, while adoption of cloud services continues to grow in Western Europe countries and Japan.

The research report titled "Information Technology (IT) Services: A Global Outlook" announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Japan, Czech Republic, France, Germany, UK, Russia, Australia, China, India, Brazil, and Mexico, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, visit http://www.strategyr.com/Information_Technology_IT_Services_Industry_Market_Report.asp.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Source: Global Industry Analysts, Inc.

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