Global IT services industry is expected to record a compound annual growth rate (CAGR) of 5% between 2012-2017 to reach $1.14tn, according to Research and Markets.
According to the report, "Global IT Services Industry 2012-2017: Trend, Profit, and Forecast Analysis", increasing IT spending in the healthcare, retail, and transportation sectors will offer significant opportunities for companies in the IT services industry.
North America is expected to dominate the global IT services industry with 42% of market share, through 2017, while Asia Pacific (APAC) IT services industry is expected to register the highest growth rate among all regions during the forecast period, according to the report.
India, China, Vietnam, and the Philippines are anticipated to drive the global IT services industry, because of their low-cost labor and skilled talent pools.
The government-backed reforms are expected to drive IT investment spending while cloud computing is also expected to generate new opportunities for IT vendors globally.
The study reveals that the increasing global demand for systems, software, and services, as well as IT spending by governments and the banking and financial sectors are likely to give a boost the IT services market.
Global IT services industry comprises services related to the application of business and technical expertise to enable organisations to create, manage, optimise, access information and business processes.
The report tracks three industry segments for four regions, North America, Europe, APAC,and Rest of World (ROW) and it tracks 12 segments of the global IT services industry.
