Connect with us

Technology

IT Professional Services Market to Expand by USD 621.4 Billion (2024-2028), Driven by Growing Digital Transformation, Market Evolution Powered by AI – Technavio

Published

on

NEW YORK, Nov. 22, 2024 /PRNewswire/ — Report on how AI is driving market transformation – 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 of10.87%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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

It Professional Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.87%

Market growth 2024-2028

USD 621.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.53

Regional analysis

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

Performing market contribution

North America at 40%

Key countries

US, UK, Canada, Germany, and China

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.

Market Driver

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. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 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.

Discover how AI is revolutionizing market trends- Get your access now!

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.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/it-professional-services-market-to-expand-by-usd-621-4-billion-2024-2028-driven-by-growing-digital-transformation-market-evolution-powered-by-ai—technavio-302313562.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

MMA SMARTIES Thailand 2024 – Celebrates Unparalleled Marketing Innovation and Excellence in Thailand

Published

on

By

BANGKOK, Nov. 23, 2024 /PRNewswire/ — The SMARTIES Thailand 2024 Awards brought together pioneers and the brightest minds of the advertising and marketing world, celebrating marketing innovation. Ultimately, 47 exceptional winners were honored, comprising 13 Gold, 15 Silver, 8 Bronze awards and 11 industry awards.

More than just a celebration, the SMARTIES Awards are a global movement that empowers brands, advertisers, agencies, publishers, and technology enablers. With over 50,000 entries globally, SMARTIES has extensive reach, encompassing 19 country awards, 4 regional awards, and one global awards program. This year, Thailand presented numerous impressive entries spanning diverse sectors, underscoring the country’s influence in strategic marketing and creative innovation.

SMARTIES Thailand 2024 honored the best in the industry with a remarkable lineup of winners. Brilliant & Million, Thailand was awarded Digital Agency of the Year, while Grab took home both Publisher of the Year and Brand of the Year. Friends & Mana Company Limited was named Independent Agency of the Year, and Spa-Hakuhodo secured Creative Agency of the Year. M&C Saatchi emerged as the Media Agency of the Year, and Babi Mild was recognized as the Most Resilient Brand of the Year. Publicis Groupe earned the title of Holding Agency Company of the Year, while the Juror’s Choice Award went to the impactful “Under My Skin” campaign. Mondelēz International claimed the honor of Advertiser of the Year, and Best in Show was awarded to the captivating “Oreo Pokemon Catch ‘Em All!” campaign.

Check Out the Winner List Here! 

A rigorous selection process, led by a dedicated jury panel featuring top minds in marketing in Thailand, identified the best campaigns. These campaigns strengthened engagement through advanced technology, and elevated marketing practices.

“SMARTIES continues to set new benchmarks in the industry,” said Rohit Dadwal, CEO of MMA Global APAC & Global Head of SMARTIES™ Worldwide. “This year’s winners have demonstrated unparalleled brilliance, proving that Thailand is a hub for exceptional marketing talent. SMARTIES is not just about winning awards; it’s about pushing boundaries and setting global standards. With the launch of our new SMARTIES Sonic logo this year, we are redefining how the SMARTIES brand resonates and engages with audiences around the world, marking a new era of recognition and innovation”.

Winning a SMARTIES award brings more than recognition. Winners gain a competitive edge, credibility, and an impact on prestigious rankings, such as the MMA SMARTIES Business Impact Index, RECMA, and the WARC Media 100.

About MMA Global: MMA Global is the leading global trade association for marketers, providing essential resources and expertise to empower marketers to navigate the complex world of Marketing. With a commitment to driving innovation and effectiveness, MMA Global plays a pivotal role in shaping the future of marketing.

SMARTIES: SMARTIES is the prestigious marketing awards program hosted by MMA Global, recognizing excellence in Marketing. The SMARTIES Awards celebrate the most innovative and impactful campaigns that push the boundaries of creativity and drive measurable business impact in today’s dynamic landscape.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/mma-smarties-thailand-2024—celebrates-unparalleled-marketing-innovation-and-excellence-in-thailand-302310807.html

SOURCE MMA Global APAC

Continue Reading

Technology

Redefining the Standard of Care: Introducing the Aulisa® Monitor Camera for Advanced Patient Monitoring

Published

on

By

PALO ALTO, Calif., Nov. 22, 2024 /PRNewswire/ — Aulisa® Medical USA, Inc., a leader in FDA-cleared, wearable, wireless continuous vital sign monitoring technology, proudly announces the launch of the Aulisa® Monitor Camera, an innovative solution designed to revolutionize patient care in both hospital and home settings. Seamlessly integrating with the Aulisa® Vital Signs Monitoring System, this advanced camera offers caregivers and healthcare professionals enhanced monitoring capabilities and peace of mind.

Redefining the Standard of Care
Hospitals constantly balance delivering exceptional patient care with managing operational costs. The Aulisa® Monitor Camera redefines patient monitoring by providing advanced, centralized solutions that enhance clinical and operational excellence. Designed to optimize patient care, the Aulisa® Monitor Camera integrates with the Centralized Multiple Patient Monitoring (CMPM) System, enabling simultaneous, wireless monitoring of oxygen saturation (SpO2), pulse rate, and body temperature across multiple patients from a centralized nursing station. With a simple app, the Aulisa® Monitor Camera can be integrated into a CMPM. In addition to monitoring a patient’s vital signs, caregivers and family members (such as parents of an infant) can also view the patient’s image and hear their voice. This feature is especially important in specific situations, such as for parents of an infant in the NICU.

This transformative approach eliminates cumbersome wires, streamlines operations, and ensures timely interventions, ultimately improving patient outcomes, enhancing safety standards, and optimizing workflow efficiency while driving significant cost savings and financial performance for healthcare facilities. With a steadfast commitment to compassionate, data-driven care and innovative solutions, Aulisa® Medical is advancing patient health and redefining healthcare excellence, one patient at a time.

Advanced Features for Comprehensive Care
The Aulisa® Monitor Camera offers crystal-clear 2K resolution with night vision, ensuring high-quality visuals day and night. Its two-way audio and human tracking features enable real-time communication and automated movement monitoring, while effortless Wi-Fi integration allows for quick and simple setup via mobile or web devices. With dual functionality as a standalone home surveillance camera, the Aulisa® Monitor Camera delivers unmatched flexibility for various care scenarios.

Engineered for Hospital Excellence
Designed with hospitals and patients in mind, the Aulisa® Monitor Camera addresses the unique demands of modern healthcare settings. From NICUs to patient rooms, it offers caregivers the ability to remotely monitor patients with visual, audio, and motion tracking capabilities. This streamlines workflows, enhances safety, and allows providers to focus on delivering compassionate care while staying equipped with FDA-cleared technology.

Founder’s Vision
“Introducing the Aulisa® Monitor Camera is a natural extension of our mission to enhance patient care and empower healthcare professionals,” said Augustine (Augie) Lien, founder and CEO of Aulisa Medical USA, Inc. “We strive to provide innovative solutions that bring peace of mind to caregivers and families alike. By delivering FDA-cleared technology with seamless functionality, we’re making it easier to ensure safety, connectivity, and exceptional care in every setting.”

Why Choose Aulisa®?
The Aulisa® Monitor Camera enhances efficiency by enabling remote monitoring, reducing physical check-ins, and providing reliable, FDA-cleared technology trusted by healthcare professionals worldwide. It is now available for purchase by healthcare facilities, caregivers, and families.

To learn more about the Aulisa Monitor Camera, the Guardian Angel® CMPM System and other Aulisa Medical products, visit:

www.aulisa.com/products/aulisa-monitor-camerawww.aulisa.com/products/cmpmwww.aulisa.com/collections/guardian-angel-remote-gateway-systems

About Aulisa Medical
Based in Silicon Valley, Aulisa® Medical is a leading medical technology company founded by serial medical technologies entrepreneur, Augustine (Augie) Lien. The company specializes in developing wireless, wearable monitoring systems that provide continuous, cloud-based vital sign data in both clinical and home environments. Through the development of new healthcare innovations, Aulisa® continues to grow the application of digital health technologies that empower both consumers and healthcare providers, incorporating Artificial Intelligence (AI) technologies that can detect adverse events and potentially save lives.

Media Contact:
Kyle Thompson, Vice President of Sales & Marketing
Email: kyle.thompson@aulisa.com
Direct: (650) 387-0001
www.aulisa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/redefining-the-standard-of-care-introducing-the-aulisa-monitor-camera-for-advanced-patient-monitoring-302314670.html

SOURCE Aulisa Medical USA, Inc.

Continue Reading

Technology

Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

Published

on

By

SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/redefining-financial-frontiers-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore-302314485.html

Continue Reading

Trending