The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. More about Information Technology & Services - Industry. Providing specialized technology-oriented solutions, ITS promotes the planning, processing, management, and distribution of data such as information, facts, statistics, reference, storage, or analysis to further apply in the fields of business and technical expertise. Small companies can compete effectively by specializing in market niches or by partnering with larger companies that want to broaden their mix of services. It is not designed to meet your personal financial situation - we are not investment advisors nor do we give personalized investment advice. The world IT consulting and related services industry reached almost $516 billion in 2010, reports MarketLine. Top exporters of computer services include the EU, India, the US, Singapore, and Israel, according to the World Trade Organization. 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 more than $410 billion. Information Technology & Services includes the design, development, application, implementation, optimization, and management of computer-based information systems, by combining the processes and functions of software, hardware, networks, telecommunications, and electronics. 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 more than $410 billion. Companies in this industry provide services such as software support, computer systems design, and data processing facilities management. Information Technology Services Key Market Segments. Worldwide spending on IT services is about $993 billion annually, according to Gartner. Companies in this industry provide services such as software support, computer systems design, and data processing facilities management. Major companies include Cognizant, DXC Technology, and the technology consulting arm of IBM (all based in the US), along with Accenture (Ireland), Cap Gemini (France), and these India-based companies such as HCL Technologies, Infosys Technologies, Tata Consultancy, and Wipro. A digital divide regarding access to and use of information and communication technologies hinders Africa's participation in exports of IT services. Information Technology & Services involves software development, integration and maintenance, hardware, networking integration, information security, IT management consultants, mobile services, and web applications. Privacy Policy. The market recorded yearly growth of almost 4% between 2006 and 2010. It may become outdated an there is no obligation to update any such information. Large companies have advantages in broad service offerings and global reach, which give them the ability to provide outsourcing services to big corporate customers. The opinions expressed herein are those of the publisher and are subject to change without notice. Information Technology & Services - Industry Definition: Information Technology & Services includes the design, development, application, implementation, optimization, and management of computer-based information systems, by combining the processes and functions of software, hardware, networks, telecommunications, and electronics. Copyright document.write(new Date().getFullYear());, Hoover's, Inc., All Rights Reserved. The profitability of companies depends on technical expertise, innovative services, and effective marketing. COMPETITIVE LANDSCAPE. Demand for IT services is driven by rapid technological advances, but spending depends on the health of the economy. Here are a few profiles related to Information Technology Services that you also might be interested in viewing: Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

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