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IT Professional Services Market to Expand by USD 621.4 Billion (2024-2028), Digital Transformation Drives Growth, AI-Powered Report on Market Trends – Technavio

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NEW YORK, Dec. 13, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global IT professional services market size is estimated to grow by USD 621.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.87% during the forecast period. Growing digital transformation is driving market growth, with a trend towards growing adoption of hybrid and multi-cloud environments. However, shortage of skilled workforce poses a challenge. Key market players include Accenture Plc, Amazon.com Inc., Atos SE, Capgemini Service SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Mahindra and Mahindra Ltd., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Type (Project-oriented services, Information technology outsourcing, IT supporting and training services, and Enterprise cloud computing services), End-user (Large enterprises and Small and medium enterprises), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Accenture Plc, Amazon.com Inc., Atos SE, Capgemini Service SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Mahindra and Mahindra Ltd., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd.

Key Market Trends Fueling Growth

IT Professional Services Market is experiencing significant trends with increasing customer demand for automation and operational efficiency. Professional service firms are adapting to business strategies such as remote working and expense management. Automated billing, consultation, audit and accounting, implementation support, and financial risk protection are in high demand. Advanced tools and analytic capabilities are essential for accurate insights in ecommerce businesses and large enterprises. Resource allocation and project management are key areas of focus, with automated tools and AI-driven solutions reducing resource wastage. Talent acquisition and resource management are crucial for firms to stay competitive, with a growing need for IT specialists in areas like cybersecurity, cloud services, and digital transformation. Economic expansion and advanced technologies like blockchain, AI, IoT, and 5G present growth opportunities for IT professional services. Firms are collaborating to offer project-oriented services, revenue management, and system integration. Business processes are being streamlined through Business Intelligence (BI) and advanced tools, while cybersecurity concerns continue to be a priority with the increasing threat of cyber breaches and cyberattacks. ITO services are essential for business operations, with a focus on scalability, automatic updates, and vertical-specific solutions. Networks, development, and deployment are critical areas of expertise, with a shift towards cloud-based services and edge cloud platforms. The NIST Cybersecurity Framework and data security concerns are driving demand for cybersecurity services. Professional services sector is evolving, with a growing emphasis on collaboration, training and education, and managed services. Telecommunication, healthcare, manufacturing, SaaS, PaaS, and LTE are some of the verticals where IT professional services are making a significant impact. Firms are offering customized solutions based on feasibility and client demands, with a focus on complex systems, machine learning, and IT infrastructure. 

The IT professional services market is witnessing a notable trend towards hybrid and multi-cloud environments. This shift is primarily driven by the demand for flexibility, scalability, and efficient resource allocation. Hybrid and multi-cloud solutions combine private, public, and on-premises infrastructure, enabling organizations to utilize multiple cloud platforms while retaining control over their data and applications. The flexibility offered by these environments allows businesses to choose the optimal cloud solution for each workload or application, ensuring optimal performance and cost savings. 

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Market Challenges

IT Professional Services market is experiencing significant challenges due to increasing customer demand for automation and operational efficiency. Professional service firms must adapt to remote working and implement business strategies for expense management and resource allocation. Project management, automated billing, consultation, audit and accounting, implementation support, and financial risk protection are essential services. Advanced tools and analytic capabilities are crucial for providing accurate insights to ecommerce businesses and large enterprises. The professional services sector faces challenges in talent acquisition, resource management, and cybersecurity. Firms must address cyber breaches and data security concerns with cloud-based services, data storing capacity, and the NIST Cybersecurity Framework. Edge cloud platforms offer scalability, automatic updates, and vertical integration for project-oriented services. Business operations and business analytics require collaboration between business strategists and IT specialists. Growth opportunities exist in advanced technologies like blockchain, AI, IoT, 5G, AR, and development. Firms must assess feasibility, address security breaches and cyberattacks, and provide system integration, training, and education. Managed services, deployment, and telecommunication are also critical areas for IT services. The healthcare, manufacturing, and SaaS industries have unique demands, requiring customized solutions.The IT professional services market faces a significant challenge due to a shortage of skilled workers. This issue impacts organizations across industries as new and evolving technologies increase the demand for professionals with current skills and knowledge. However, educational institutions find it difficult to keep up with the latest industry trends in their curricula. As a result, there is a gap between the abilities of graduates and the requirements of employers. The IT sector’s continuous evolution necessitates ongoing learning and upskilling to remain competitive. This pressure is particularly felt in areas like cybersecurity, data analytics, artificial intelligence, cloud computing, and software development, where the shortage of skilled professionals is most pronounced.

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Segment Overview 

This it professional services market report extensively covers market segmentation by

Type 1.1 Project-oriented services1.2 Information technology outsourcing1.3 IT supporting and training services1.4 Enterprise cloud computing servicesEnd-user 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Project-oriented services- In the global IT professional services market, project-oriented services refer to the delivery of IT projects based on a defined scope, timeline, and set of deliverables. These services cater to unique business needs and may include timely maintenance, modernization, project installation, and decommissioning. Organizations engage IT service providers for project-oriented services when they require specialized expertise, resources, and technical skills for a specific IT initiative. These services offer benefits such as effective scope management, improved revenue management, better quotes, efficient resource management, and successful project delivery. The demand for project-oriented services is driven by these factors and is expected to fuel market growth during the forecast period.

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Research Analysis

The IT professional services market is experiencing significant growth due to increasing customer demand for automation and operational efficiency. Professional service firms are responding by offering a range of services, including ITO (Information Technology Outsourcing) and business analytics, to help organizations streamline their business processes and gain a competitive edge. With the shift to remote working, expense management and resource allocation have become critical areas of focus. Project management, revenue management, and business strategies are also key areas of expertise for IT professional services. Large enterprises are turning to these services to adapt to technological developments and meet client demand. Talent recruiting and the use of tools and resources are essential for delivering high-quality services. Business plans are being reimagined to incorporate these offerings, making the professional services sector an indispensable partner for businesses seeking to thrive in today’s digital landscape.

Market Research Overview

The IT professional services market is experiencing significant growth due to increasing customer demand for automation and operational efficiency. Professional service firms are leveraging advanced tools and analytic capabilities to provide consultation, audit and accounting, implementation support, financial risk protection, and revenue management services to large enterprises and ecommerce businesses. With the shift to remote working, firms are focusing on expense management, resource allocation, project management, automated billing, and talent acquisition. Advanced technologies such as AI, IoT, 5G, AR, blockchain, and machine learning are transforming IT infrastructure, enabling scalability, automatic updates, and complex system integration. Business strategists are collaborating to develop growth opportunities and business plans, while IT specialists focus on cybersecurity concerns, data security, and the NIST Cybersecurity Framework. Cloud-based services, data storing capacity, and edge cloud platforms are essential for business operations and digital transformation. Client demands and variables are driving firms to provide project-oriented services, deployment, managed services, and training and education. Telecommunication, healthcare, manufacturing, SaaS, and PaaS are some verticals benefiting from IT professional services. Despite the opportunities, firms face challenges such as resource wastage, cyber breaches, and cyberattacks. Firms must prioritize security and ensure feasibility in their business processes to protect their clients’ data and maintain trust. Business Intelligence (BI) and resource management are crucial for accurate insights and effective decision-making. Overall, the professional services sector continues to evolve, driven by technological advancements and changing business strategies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeProject-oriented ServicesInformation Technology OutsourcingIT Supporting And Training ServicesEnterprise Cloud Computing ServicesEnd-userLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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AGM Group Holdings Inc. Announces Strategic Partnership with Canada’s Nowlit to Expand High-Performance Computing Capabilities

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BEIJING, Dec. 20, 2024 /PRNewswire/ — AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, announced today that the Company has signed an investment intention agreement (the “Agreement”) with its Canadian partner, NOWLIT Solutions Corp. (“Nowlit”), a prominent energy technology company focused on developing energy solutions and data center infrastructure in Canada, to provide green energy data center and cryptocurrency computing power. This initiative aligns strategically with AGM Holdings’ long-term expansion plan in the rapidly evolving artificial intelligence and data center market in North America.

Pursuant to the Agreement, Nowlit plans to contribute its existing 50 megawatts (MW) data center assets to AGM Energy Corp. (“AGM Energy” or the “JV”), the Canadian joint venture co-founded by AGM Holdings and Nowlit. Led by Nowlit’s founder, Mr. Ma, the JV is set to expand its capacity significantly. The initial 50MW contribution will enable the data center to host over 6,800 high-performance computing servers, providing an estimated computing power of 2,457 petahashes (P).

AGM Energy aims to develop additional data centers in Canada incrementally over the next two years, adding an average of 20MW per month, with a total projected capacity of 375MW. Additionally, the JV aims to leverage upstream and downstream industry partnerships to enhance computing power. The total computing power capacity of these data centers is expected to reach 18,427P within two years.

This significant milestone underscores AGM Holdings’ commitment to strengthening its market presence in the fast-growing data center sector. By capitalizing on the increasing demand for digital assets and leveraging its expertise in hardware and software solutions, the Company is well-positioned to capture emerging opportunities brought forward by the latest artificial intelligence technology revolution, driving sustainable growth and value creation for its stakeholders.

About NOWLIT Solutions Corp.

Established in 2013, NOWLIT Solutions Corp. is a high performance computing and data center supplier based in Canada. It offers complete solution including all hardware, hosting and initial setup for new and experienced servers. It is also committed to supporting the blockchain ecosystem by offering hardware, software and a variety of solutions and services. It has invested in large-scale oil and gas fields and is involved in the construction and operation of informatization infrastructure such as third-party data center machine rooms and bitcoin mining farms. For more information, please visit https://nowlit.com/.

About AGM Group Holdings Inc.

AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment. With a mission to become a key participant and contributor in the global blockchain ecosystem, AGMH focuses on the research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips, the assembling and sales of high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit www.agmprime.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

AGM Group Holdings Inc.
Email: ir@agmprime.com 
Website: http://www.agmprime.com

Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

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SOURCE AGM Group Holdings Inc.

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Tiina A. Lantto, Ph.D., and Max C. Moseley, MSc, Join The Acta Group’s Brussels and Manchester Offices

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The Acta Group (Acta®) is pleased to announce the expansion of our global scientific and regulatory capabilities with the appointments of Tiina A. Lantto, Ph.D., Regulatory Scientist and Toxicologist in our Brussels, Belgium, office, and Max L. Moseley, MSc, Regulatory Specialist in our Manchester, England, office.

WASHINGTON, Dec. 20, 2024 /PRNewswire-PRWeb/ — The Acta Group (Acta®) is pleased to announce the expansion of our global scientific and regulatory capabilities with the appointments of Tiina A. Lantto, Ph.D., Regulatory Scientist and Toxicologist in our Brussels, Belgium, office, and Max L. Moseley, MSc, Regulatory Specialist in our Manchester, England, office.

With offices in the United States, the UK, and the EU, Acta assists companies with complex registration and compliance issues under multiple regulatory schemes worldwide.

Dr. Tiina A. Lantto provides seasoned, sophisticated toxicology and regulatory guidance for worldwide chemical registration and compliance programs, with particular expertise in European chemical regulatory programs, including all aspects of the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulation. Dr. Lantto’s two decades of experience as a toxicologist and regulatory scientist include serving as a regulatory science researcher and dossier evaluator with the European Chemicals Agency’s (ECHA) Classification and Prioritisation Unit and Evaluation Unit, as a toxicologist for a global fragrance and flavor company, as a consultant to international chemical and petrochemical companies, and as a researcher and instructor at the University of Helsinki. Dr. Lantto holds an MSc in Animal Biotechnology from the University of Eastern Finland and a Ph.D. in Pharmaceutical Biology from the University of Helsinki.

Max L. Moseley, MSc assists clients in the United Kingdom (UK), the European Union (EU), and worldwide with global chemical regulatory compliance while keeping a keen focus on attendant business impacts. Within the EU and UK REACH frameworks, he concentrates on the full spectrum of support services for co-registrants and lead registrants, including performing data gap assessments, authoring robust study summaries (RSS), completing quantitative structure-activity relationship (QSAR) assessments, and designing integrated testing strategies. Mr. Moseley offers clients particular expertise in green chemistry, sustainability, life cycle analysis, Greenhouse Gas Protocol Carbon Accounting standards, and meeting the objectives of the EU Chemicals Strategy for Sustainability (CSS). Mr. Moseley earned a BS in Chemistry and an MSc in Green Chemistry and Sustainable Industrial Technology, both from the University of York, England. He has spent the decade since as a trusted chemical regulatory and business consultant.

Acta is a scientific, business, and regulatory consulting firm staffed by experts who assist companies making or using chemicals to commercialize and sustain their products globally. With offices in the United States, the UK, and the EU, Acta assists companies with complex registration and compliance issues under multiple regulatory schemes worldwide. For more information, visit our website at http://www.actagroup.com. For timely updates and thoughtful analysis on developments under REACH and UK REACH, visit and subscribe to Acta’s REACHblog®, http://www.reachblog.com.

Acta is the consulting affiliate of Bergeson & Campbell, P.C. (B&C®), a Washington, D.C. law firm focusing on conventional, biobased, and nanoscale industrial, agricultural, and specialty chemical product approval and regulation, product defense, and associated business issues.

Media Contact

Heidi Lewis, The Acta Group, 202-557-3812, hlewis@actagroup.com, www.actagroup.com

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SOURCE The Acta Group

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Playtika Teams Up with IGT to Bring World-Class Slots to Social Casino Games

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IGT slot titles meet Playtika’s iconic social casino portfolio: Slotomania, Caesars Slots, and House of Fun

HERZLIYA, Israel, Dec. 20, 2024 /PRNewswire/ — Playtika (NASDAQ: PLTK), a leader in mobile gaming and interactive entertainment, has announced a partnership with IGT (NYSE:IGT), a global gaming leader. This collaboration brings several of IGT’s most popular renowned slot themes to Playtika’s category-leading social casino games, offering players an exciting new way to enjoy their favorite casino slots virtually, free of charge.*

Starting this month and rolling into 2025, IGT slot titles will appear in Slotomania, Caesars Slots, and House of Fun. The first fan-favorite, Cleopatra II, will debut in Slotomania beginning December 26, 2024, with more top-performing IGT slots slated to follow throughout the next year.

“We are constantly looking for ways to engage new players and are thrilled to announce our strategic content partnership with IGT,” said Amnon Calev, Executive General Manager of Slots Central and Slotomania at Playtika. “As leaders in the social casino industry, it was only natural for us to collaborate with the creators of some of the most iconic games in the gaming industry and bring the best content into our social casino game.”

IGT’s President of Global Gaming, Nick Khin, echoed the excitement: “By partnering with Playtika, IGT can extend the reach of its player-favorite games portfolio and offer popular games such as Cleopatra II in a free-to-play format via Playtika’s iconic social casino games. This collaboration creates new opportunities for a global audience of players to immerse themselves in the thrill of IGT slots in a virtual, social setting.”

Cleopatra II will launch in Slotomania this December, accompanied by a multi-platform marketing campaign, and players can look forward to discovering which popular IGT games are anticipated to launch in Caesars Slots and House of Fun. Download all three games, which are available for free in the Apple Store and Google Play store to experience the virtual slots, straight from the Vegas casino floor to your phone. Playtika’s social casino games are designed for entertainment purposes only, with no real money rewards.

About Playtika
Playtika Holding Corp. (NASDAQ: PLTK) is a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has employees across offices worldwide.

About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

* *Playtika’s social casino games are free-to-play. Optional purchases of virtual items (including random items) are available in the game and can be disabled in device settings. No real-money rewards are offered.

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SOURCE Playtika Holding Corp.

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