Market Overview:
The global IT spending market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for IT services, hardware, and software across different industries. The application segment of the global IT spending market is divided into business enterprise solutions (BESI), telecom, retail, healthcare, energy utilities, and others. BESI is expected to account for the largest share of the global IT spending market in 2018.
Product Definition:
IT spending is the total expenditure of a company on information technology (IT) products and services. IT spending can be used to measure a company's investment in technology and its importance within the organization.
IT Services:
IT services comprise of consulting, application development, system integration & implementation as well as support and maintenance. IT spending comprises on-premise and cloud infrastructure spending. On-premise infrastructure includes servers, storage devices etc., while cloud infrastructure includes software such as IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a -Service) and SaaS (Software -as -a -Service).
Hardware:
Hardware is the tangible assets of an IT system. It includes computer hardware and software. Hardware components are used in various stages of information technology life cycle for carrying out operations efficiently. The hardware and software systems work together to provide a solution to the business problem, which can be either used by an individual or a company as a whole.
Application Insights:
The banking, financial services, and insurance (BFSI) segment accounted for the largest market share in 2017. The BFSI sector is expected to witness significant growth over the forecast period owing to increasing demand for cloud computing among banks. Moreover, growing digitalization of banking activities across all industry verticals is further anticipated to drive the global IT spending in this sector over the forecast period. Telecom was another prominent application segment that accounted for a considerable market share in 2017 and is expected to grow at a healthy rate during the forecast period as well.
The retail industry has also been witnessing tremendous growth due largely to digitization initiatives undertaken by retailers such as offering ¢â‚¬Å“Online-to-Offline (O2O) Services¢â‚¬ or ¢â‚¬Å€mmerce Solutions (excluding payments).
Regional Analysis:
The North American region dominated the global market in 2017. The growth of the region can be attributed to several factors such as increasing government initiatives, rising adoption of cloud technology and digitalization, and growing demand for mobility solutions. Moreover, presence of major IT companies in this region is also expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to emerge as a lucrative destination for business over the next eight years owing to significant developments taking place in various sectors including healthcare & life sciences; manufacturing; retail & e-commerce; energy & utilities; banking, financial services & insurance (BFSI); telecoms/mobiles etc., which are driving demand for information technology (IT) services and hardware products within these sectors.
Growth Factors:
- Increasing demand for big data and analytics: The need for organizations to effectively manage and analyze ever-growing volumes of data is fueling the demand for big data and analytics solutions, which in turn is driving the growth of the IT spending market.
- Proliferation of cloud computing: Cloud computing is gaining traction among businesses due to its many benefits such as scalability, flexibility, and cost-effectiveness. This is resulting in an increase in spending on cloud-based solutions, thereby propelling the growth of the IT spending market.
- Emergence of Internet of Things (IoT): The IoT phenomenon is giving rise to a new era where devices are interconnected and can communicate with each other seamlessly. This has led to an increase in demand for IoT-related solutions, thereby fueling the growth of the IT spending market.
Scope Of The Report
Report Attributes
Report Details
Report Title
IT Spending Market Research Report
By Type
IT Services, Hardware, Software
By Application
BESI, Telecom, Retail, Healthcare, Energy Utilities, Others
By Companies
BMC Software, HPE, IBM, Red Hat, VMware, Accenture, Adaptive Computing, Broadcom, Cisco Systems, Citrix Systems, CloudBolt Software, Convirture, CSC, Dell EMC, Egenera, Embotics, GigaSpaces Technologies, Micro Focus, Oracle, RightScale, Scalr, ServiceNow, Splunk, Zimory
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global IT Spending Market Report Segments:
The global IT Spending market is segmented on the basis of:
Types
IT Services, Hardware, Software
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BESI, Telecom, Retail, Healthcare, Energy Utilities, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BMC Software
- HPE
- IBM
- Red Hat
- VMware
- Accenture
- Adaptive Computing
- Broadcom
- Cisco Systems
- Citrix Systems
- CloudBolt Software
- Convirture
- CSC
- Dell EMC
- Egenera
- Embotics
- GigaSpaces Technologies
- Micro Focus
- Oracle
- RightScale
- Scalr
- ServiceNow
- Splunk
- Zimory
Highlights of The IT Spending Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- IT Services
- Hardware
- Software
- By Application:
- BESI
- Telecom
- Retail
- Healthcare
- Energy Utilities
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the IT Spending Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
IT spending is the total amount of money that organizations spend on technology products and services. This includes everything from software licenses to hardware purchases to employee training.
Some of the major players in the it spending market are BMC Software, HPE, IBM, Red Hat, VMware, Accenture, Adaptive Computing, Broadcom, Cisco Systems, Citrix Systems, CloudBolt Software, Convirture, CSC, Dell EMC, Egenera, Embotics, GigaSpaces Technologies, Micro Focus, Oracle, RightScale, Scalr, ServiceNow, Splunk, Zimory.
The it spending market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 IT Spending Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 IT Spending Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 IT Spending Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the IT Spending Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global IT Spending Market Size & Forecast, 2018-2028
4.5.1 IT Spending Market Size and Y-o-Y Growth
4.5.2 IT Spending Market Absolute $ Opportunity
Chapter 5 Global IT Spending Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 IT Spending Market Size Forecast by Type
5.2.1 IT Services
5.2.2 Hardware
5.2.3 Software
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global IT Spending Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 IT Spending Market Size Forecast by Applications
6.2.1 BESI
6.2.2 Telecom
6.2.3 Retail
6.2.4 Healthcare
6.2.5 Energy Utilities
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global IT Spending Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 IT Spending Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America IT Spending Analysis and Forecast
9.1 Introduction
9.2 North America IT Spending Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America IT Spending Market Size Forecast by Type
9.6.1 IT Services
9.6.2 Hardware
9.6.3 Software
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America IT Spending Market Size Forecast by Applications
9.10.1 BESI
9.10.2 Telecom
9.10.3 Retail
9.10.4 Healthcare
9.10.5 Energy Utilities
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe IT Spending Analysis and Forecast
10.1 Introduction
10.2 Europe IT Spending Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe IT Spending Market Size Forecast by Type
10.6.1 IT Services
10.6.2 Hardware
10.6.3 Software
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe IT Spending Market Size Forecast by Applications
10.10.1 BESI
10.10.2 Telecom
10.10.3 Retail
10.10.4 Healthcare
10.10.5 Energy Utilities
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific IT Spending Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific IT Spending Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific IT Spending Market Size Forecast by Type
11.6.1 IT Services
11.6.2 Hardware
11.6.3 Software
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific IT Spending Market Size Forecast by Applications
11.10.1 BESI
11.10.2 Telecom
11.10.3 Retail
11.10.4 Healthcare
11.10.5 Energy Utilities
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America IT Spending Analysis and Forecast
12.1 Introduction
12.2 Latin America IT Spending Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America IT Spending Market Size Forecast by Type
12.6.1 IT Services
12.6.2 Hardware
12.6.3 Software
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America IT Spending Market Size Forecast by Applications
12.10.1 BESI
12.10.2 Telecom
12.10.3 Retail
12.10.4 Healthcare
12.10.5 Energy Utilities
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) IT Spending Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) IT Spending Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) IT Spending Market Size Forecast by Type
13.6.1 IT Services
13.6.2 Hardware
13.6.3 Software
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) IT Spending Market Size Forecast by Applications
13.10.1 BESI
13.10.2 Telecom
13.10.3 Retail
13.10.4 Healthcare
13.10.5 Energy Utilities
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 IT Spending Market: Competitive Dashboard
14.2 Global IT Spending Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BMC Software
14.3.2 HPE
14.3.3 IBM
14.3.4 Red Hat
14.3.5 VMware
14.3.6 Accenture
14.3.7 Adaptive Computing
14.3.8 Broadcom
14.3.9 Cisco Systems
14.3.10 Citrix Systems
14.3.11 CloudBolt Software
14.3.12 Convirture
14.3.13 CSC
14.3.14 Dell EMC
14.3.15 Egenera
14.3.16 Embotics
14.3.17 GigaSpaces Technologies
14.3.18 Micro Focus
14.3.19 Oracle
14.3.20 RightScale
14.3.21 Scalr
14.3.22 ServiceNow
14.3.23 Splunk
14.3.24 Zimory
