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The Global IT Market: The Opportunity Outlook Through to 2021
The global IT market has seen significant growth in the past few years, and that is set to continue for the foreseeable future. Using data provided by GlobalDAta TECHNOLOGY, we look at the forecast through to 2021, and discover the areas set for the most growth
Strong Growth Ahead for the Global IT Market
Overall, the IT market is set to grow significantly in the next few years, seeing an upwards swing in growth rate as demand for a host of IT solutions rises.
Growth in the Global IT Market
However, growth is not set to be apportioned equally by region. North America will see the biggest uptick in growth, but the markets in Central & Latin America, Central & Eastern Europe and the Middle East and Africa will be more muted. Asia Pacific and Western Europe will both see good growth, but the latter will grow at a slightly faster rate, coming close to overtaking the second biggest IT market by 2021.
Growth in the Global IT Market by Region
Solid growth in Business process Outsourcing (BPO) services
Business process outsourcing (BPO) services, also known as information technology enabled services (ITES), cover payroll, human resources, accounting and contact centres, so it is no surprise this area is projected to grow in size. Advances in AI in particular are driving a growth in BPO, as many companies turn to third-party software to cover operations previously handled in-house employees.
BPO Growth Projections to 2021 by Region
Cloud services to continue rapid rise
Cloud services, which include infrastructure as a services, platform as a service and software as a service, have enjoyed considerable growth of late, and there is no sign this will change. The services are set to continue a dramatic rise in use as companies increasingly make use of cloud-enabled technologies instead of their own in-house solutions, seeing perhaps the largest growth rate across the entire spectrum of IT.
Cloud Services Projections to 2021 by Region
Enterprise communications Services to see modest growth
Enterprise communications services, which include conferencing services, enterprise fixed line services, enterprise mobility services, managed and hosted IP PBX and network services, will not see as dramatic growth. This suggests priorities will lie elsewhere, but does reflect a general growth in IT investment.
Enterprise Communications Services Projections to 2021 by Region
IT Hardware Begins Recovery after Slump in Growth
Uniquely within the IT market, IT hardware, which includes client computing, network infrastructure, security hardware, servers and storage infrastructure, has actually seen a drop in growth from 2015 to now. This is due to the shift to cloud services, but hardware is set to see a modest recovery as new technologies such as the Internet of Things and 5G become more widespread in enterprise.
IT Hardware Projections to 2021 by Region
IT Services see steady growth
IT services, which cover application services, consulting and systems integration and instrastructure services, are seeing steady growth with little fluctuation in response to new technologies. This suggests that while there will be modest growth in demand for such services, their use will not be notably impacted by changing IT trends.
IT Services Projections to 2021 by Region
Enterprise software growth remains modest
Finally, software, which includes enterprise applications, mobility management, information management, security software and software infrastructure, will see only minor growth, and is set to advance solidly in the next few years. This not only reflects a lack of dramatic change within this space, but shows that increased board-level interest in cybersecurity is not likely to translate into dramatic spending increases.
Software Projections to 2021 by Region
Data courtesy of GlobalData Technology. Market sizes for 2016 have been estimated, while those from 2017 to 2021 have been forecasted.
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