The IT infrastructure services market is progressing extensively. Enterprises of all sizes worldwide are increasingly taking up IT services to build, modernize, and manage infrastructure to host critical application workloads with agility and speed. Also, businesses are increasingly migrating their critical data to cloud to gain more scalability and flexibility in all operations.
The implementation and transition of IT infrastructure also help businesses to manage process tracking and running the cloud environment. The market is likely to continue to grow in the coming years. Market Research Future (MRFR) states that the global IT infrastructure services market is poised to touch the valuation of USD 145.3 BN by 2030, growing at an 11.20% CAGR throughout the forecast period (2022-2030).
|Revenue Forecast in 2030||USD 143.3 Billion|
|Growth Rate:||CAGR of 11.20% from 2022 to 2030|
|Forecast Period:||2022 -2030|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
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IT infrastructure services are used across industries to efficiently monitor and ensure the security of digital assets, networks, and enterprise systems, as well as predict and respond to future business needs and risks. In today’s growing digitization and automation, efficient cloud and IT infrastructure has become important to run businesses and to build exceptional customer & employee experiences.
Most organizations have already embraced digital transformation to become more competitive. However, traditional infrastructures cannot meet the needs of accelerated transformation, that is, digitization and automation. Therefore, enterprises are increasingly modernizing their IT infrastructures and moving away from a capital-intensive, hardware-oriented infrastructure toward a software-defined & intelligent environment.
Also, complex IT environments and inherent risks, such as cybersecurity, resiliency, and IT asset management, pose significant challenges to business growth. Adopting IT infrastructure services provides organizations with an innovative approach to utilizing advanced technologies to transform and modernize their businesses.
The market is segmented into services, service types, organization size, end-user industries, and regions. The service segment is sub-segmented into network management, enterprise system management, IT security management, virtualization solutions, data center consolidation services, and others.
The service type segment is sub-segmented into consulting, planning integration & implementation, maintenance, managed, and other services. The organization size segment is sub-segmented into small enterprises, medium-sized enterprises, and large-sized enterprises.
The end-user industries segment is sub-segmented into automotive, chemicals, retail & consumer goods, IT & telecommunication, healthcare, government, BFSI, manufacturing, and others. The region segment is bifurcated into the Americas, Asia-Pacific, MEA, Europe, and rest-of-the-world.
North America dominates the global IT infrastructure services market. Increasing investments in IT infrastructure services by various well-established enterprises drive market growth. Besides, the presence of many IT services providers and rapidly growing consumer goods, healthcare, and manufacturing sectors are increasingly witnessing the need to manage IT infrastructure and boost the market size effectively.
The IT infrastructure services market in the European region accounts for the second-largest market globally. Rapidly growing businesses are increasingly migrating their data to the cloud and developing IT infrastructures to mitigate security issues and improve business operations to accelerate the region’s market shares. Germany, the UK, France, and Italy are growing markets for IT infrastructure services.
The IT infrastructure services market in the Asia Pacific region is emerging as a promising market globally. The burgeoning IT & telecom sector, especially in economically and technologically developing countries such as Japan, China, and India, escalates the market value, offering substantial opportunities for IT infrastructure service providers. Additionally, the growing adoption of on-demand cloud services is a key factor substantiating market revenues in this region.
The well-established IT infrastructure services market appears to be fragmented due to the presence of several large and small players. These players incorporate strategic initiatives such as acquisition, collaboration, expansion, and product launch, to gain a competitive advantage in this market.
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These players emphasize innovations and the development of new services, which, in turn, fuel the already intensified market competition. The market demonstrates a high growth prospect that attracts several new entrants, further intensifying the market competition.
For instance, on Aug. 29, 2022, Kyndryl, a leading global IT infrastructure services provider, and Yamaha Motor (Brazil) announced an agreement to transform the motorcycle company’s IT infrastructure to support new business strategies and drive more agility in sales operations.
This move will help Yamaha to update & migrate its mission-critical management data to the Oracle Cloud Infrastructure (OCI) to enhance business scalability and flexibility. Resultantly, the company needed to re-envision its transformation strategy to prepare its current infrastructure for cloud migration and, thus, gain more time to focus on innovation.
Players leading the IT infrastructure services market include Clover Infotech Private Limited, PC Solutions, IBM, YASH Technologies, Fingent Corporation, and Tata Communications, among others.
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