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The EMEA - IT Professional Services Market size is estimated to grow at a CAGR of 8.74% between 2023 and 2028. The market size is forecast to increase by USD 167.43 billion. The growth of the market depends on several factors, including robust adoption of cloud-based solutions, growth in e-commerce and online services, and growing demand for IT professional services in the healthcare sector. IT professional services refer to a broad range of specialized services offered by professionals and IT service providers to help organizations leverage information technology (IT) effectively to achieve their business objectives. These services encompass various areas of information technology and are tailored to meet the unique needs and challenges of clients.
This EMEA IT professional services market report extensively covers market segmentation by type (project-oriented services, information technology outsourcing, IT supporting and training services, and enterprise cloud computing services) and end-user (large enterprises, small, and medium enterprises). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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Robust adoption of cloud-based solutions is notably driving the EMEA IT professional services market growth. Companies in EMEA are increasingly migrating to the cloud, with a growing interest in hybrid and multi-cloud solutions. This trend was driven by the need for scalability, cost-efficiency, and flexibility. Cloud solutions eliminate the need for substantial upfront investments in hardware and infrastructure.
Moreover, cloud services enable IT professionals to quickly deploy applications, services, and infrastructure for their clients. This agility is crucial when clients need to respond rapidly to changing MEA (Europe, Middle East, Africa) - IT professional services market conditions. Thus, the growing adoption of cloud solutions will propel the growth of the EMEA IT professional services market during the forecast period.
Digital transformation is an emerging trend shaping EMEA IT professional services market growth. The demand for IT professional services remains strong in EMEA as businesses continue to invest in digital transformation initiatives. Companies are adopting cloud computing, big data analytics, AI, IoT, and other advanced technologies to enhance their operations and customer experiences which results in the MEA (Europe, Middle East, Africa) - IT professional services market expansion. As European businesses undertake digital transformation initiatives, there is a growing need for IT professionals with expertise in emerging technologies, such as cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and big data analytics.
In addition, IT professionals are crucial for planning, executing, and managing cloud migration projects. With the expansion in digital operations, the importance of cybersecurity has surged. IT professionals who specialize in cybersecurity are essential for safeguarding data and systems in an increasingly interconnected world which creates new opportunities for the EMEA - IT professional services market. Thus, the growing digital transformation across industries will boost the growth of the EMEA IT professional services market during the forecast period.
Complex and time-consuming technology adoption is a significant challenge hindering EMEA IT professional services market growth. Rapid technological advancements can create skill gaps in the workforce. IT professionals struggle to keep up with the latest developments, leading to a shortage of talent with the necessary expertise. As information technology becomes more advanced, IT services can become more complex. New technologies can introduce security-related vulnerabilities. Therefore, IT service providers need to invest in cybersecurity measures to protect their clients' data and systems, which can be costly and time-consuming. Onboarding clients to new technologies or platforms can be a complex process.
However, keeping up with technological advancements often involves substantial upfront costs for IT service providers, including investments in hardware, software, and training which can negatively impact the EMEA - IT professional services market growth. Thus, the risks associated with rapid technological changes may have a negative impact on the growth of the EMEA IT professional services market during the forecast period.
The project-oriented services segment is estimated to witness significant growth during the forecast period. Project-oriented services are witnessing high demand across various industries due to several factors, including the need for specialized expertise, flexibility, and the desire to complete specific tasks or initiatives efficiently.
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The project-oriented services segment was the largest segment and was valued at USD 101.83 billion in 2018. Healthcare organizations require IT project services to implement electronic health records, telehealth solutions, and other information technology-related initiatives. The demand for project-oriented services is driven by the need for specialized skills, the desire to complete specific initiatives without hiring permanent staff, and the flexibility to scale up or down as needed. As businesses and industries evolve, the demand for project-oriented services is likely to continue to grow, which will have a positive impact on the EMEA - IT professional services market. Such factors are expected to fuel the segment which in turn drives the market growth during the forecast period.
The adoption of new technologies in large enterprise segment require IT professionals which will increase the market growth. Large enterprises often have a complex IT infrastructure with numerous systems, applications, and data centers. Managing and maintaining this complexity requires IT professionals with specialized skills. The increasing threat of cyberattacks has made robust cybersecurity measures a top priority for large enterprises in the MEA (Europe, Middle East, Africa) - IT professional services market. In November 2022, Wipro Limited launched a strategic cybersecurity consulting offering in Europe. IT professionals are needed to develop, implement, and maintain comprehensive cybersecurity solutions. Many large enterprises are undergoing digital transformation initiatives to stay competitive in the digital age. This includes adopting new technologies, automating processes, and enhancing customer experiences, all of which require the expertise of IT professionals, which, in turn, will boost the growth of the market in focus during the forecast period.
The EMEA IT Professional Services Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
EMEA IT Professional Services Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accenture Plc - The company offers IT professional services such as IT consulting, systems integration, and technology outsourcing services.
Amadeus IT Group SA - The company offers IT professional services such as Amadeus IT consulting and solutions, and data and business consulting services.
Atos SE - The company offers IT professional services such as digital transformation consulting services.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The EMEA IT Professional Services Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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EMEA IT Professional Services Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.74% |
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Market Growth 2024-2028 |
USD 167.43 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.26 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accenture Plc, Amadeus IT Group SA, Amazon.com Inc., Atos SE, Capgemini Service SAS, Dassault Systemes SE, Datto Holdings Corp., Deloitte Touche Tohmatsu Ltd., DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Hexagon AB, Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Siemens AG, and Tata Consultancy Services Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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