Friday 19 September 2014

IT Services Market Growing Role of Cloud-based Services


IT services refer to the application of business and technical expertise that help organizations in creation, management, and optimization of information and business processes. IT services are provided to help customers accomplish their requirements and business goals. IT services are also required to manage IT systems. They are process-focused and are needed to improve customers'' business-related processes and methodologies. These services focus on providing a framework to structure IT-related activities. There is a wide range of IT services available, and organizations need them to streamline their processes and integrate their systems. These services help organizations reinvent themselves, develop a more economical cost structure, and centralize their processes.

Analysts forecast the Global IT Services market 2014-2018 to grow at a CAGR of 5.40 percent over the period 2013-2018.

The report recognizes the following companies as the key players in the Global IT Services Market: Computer Sciences Corp. (CSC), Fujitsu Corp., Hewlett-Packard Co. (HP) and International Business Machines Corp. (IBM).
Other Prominent Vendors in the market are: Accenture, ACS, Alcatel-Lucent, ATOS Origin, BT Global Services, Capgemini, Dell, Ericsson, General Dynamics, Hitachi, Huawei Technologies, Lockheed Martin, Logica, Microsoft, NEC, NTT DATA, Nokia Siemens Networks, Northrop Grumman, Siemens and T-systems.

Cloud-based services are expected to play an increased role, led by increasing awareness among customers about the advantages of these services. The rapid development of cloud computing services has enabled organizations to achieve better operational efficiency and productivity.

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Covered in this Report
This report covers the present scenario and the growth prospects of the Global IT Services market for the period 2014-2018. The Global IT Services market is categorized into five segments: Consulting, Implementation, ITO, Software Support, and Hardware Support.

Global IT Services Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers Global IT Services market landscape and its growth prospects in the coming years.The report also includes a detailed discussion of the key vendors operating in this market and their market shares.

According to the report, one of the major drivers steering the growth of the market is the emergence of outsourcing destinations. The APAC region is considered an outsourcing hub, with the presence of many important and sought-after outsourcing countries such as India, China, Australia, Malaysia, the Philippines, and Vietnam.

Further, the report states that the high cost of implementation of IT services, such as licensing, installation, system design and customization, testing, training, maintenance, and upgrades, poses a major challenge to enterprises in this market.

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