Information Technology Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/25/2018
SIC Codes: 7371, 7373
NAICS Codes: 5415
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Information Technology Services Industry Profile

Companies in this industry provide services such as software support, computer systems design, and data processing facilities management. Major companies include Cognizant, DXC Technology (formed through the 2017 merger of Computer Sciences Corporation and Hewlett Packard Enterprise), and the technology consulting arm of IBM (all based in the US), along with Accenture (Ireland), Cap Gemini (France), HCL Technologies (India), Infosys Technologies (India), and Tata Consultancy (India).

Worldwide spending on IT services is about $935 billion annually, according to Gartner. Among world regions, Europe is the leading exporter of computer services (more than 60% of all exports), followed by Asia (about 24%) and North America (6%), according to the World Trade Organization. A digital divide regarding access to and use of information and communication technologies hinders Africa's participation in exports of IT services.

The US information technology (IT) services industry includes about 142,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $380 billion.

COMPETITIVE LANDSCAPE

Demand for IT services is driven by rapid technological advances, but spending depends on the health of the economy. The profitability of companies depends on technical expertise, innovative services, and effective marketing. Large companies have advantages in broad service offerings and global reach, which give them the ability to provide outsourcing services to big corporate customers. Small companies can compete effectively by specializing in market niches or by partnering with larger companies ...

 
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