Global IT-as-a-service Market 2017-2021

Overview of the global IT-as-a-service market

Market research analysts at Technavio predict that the global IT as a service market will grow steadily at a CAGR of more than 22% by 2021. This market research analysis identifies the increased need for intra-department cost-benefit analysis as one of the primary growth factors for this market. The cumbersome allocation of budgets and the unequal usage of shared resources makes it difficult for the organization to estimate benefits between the departments. The key players in the market provide service catalog tools that create a service catalog and also enables users to order and consume IT services directly. Additionally, this tool also aids organizations to decipher the exact volume of the consumption of services listed in the catalog.

Enterprise mobility is gaining traction due to the increasing preference for  bring your own device (BYOD) since it enables the employees to use their personal devices for professional purposes. BYOD requires a specific management system and IT service delivery framework to guarantee electronically secure and productive work environments to access secure computer networks. The implementation of BYOD policy has increased the demand for cloud-based database management system with flexible storage system and quick access to data. According to this market research and analysis, the rise in adoption of bring your own device (BYOD) policy will be one of the key trends behind the growth of this market.

Competitive landscape and key vendors

The market is highly competitive and fragmented due to the presence of several large players who offer various innovative solutions. The vendors in the market compete based on pricing, product expansion, IT security, compliance, innovation, and portfolio expansion. The changing business requirements and technological innovations encourages the vendors to innovate their products and services.

The leading vendors in the market are -

• BMC Software
• HPE
• IBM
• Red Hat
• Red Hat in Cloud Management Solutions
• VMware

The other prominent vendors in the market are Accenture, Adaptive Computing, CA Technologies, Cisco Systems, Citrix Systems, CloudBolt Software, Convirture, CSC, Dell EMC, Egenera, Embotics, GigaSpaces Technologies, Micro Focus, Oracle, RightScale, Scalr, ServiceNow, Splunk, and Zimory.

Segmentation by end user and analysis of the IT-as-a-service market

• Banking, financial services, and insurance (BFSI)
• Telecom
• Retail
• Healthcare
• Energy utilities

BFSI firms are the primary users of IT solutions and trends such as analytics, cloud computing, and virtualizations. Financial firms are increasingly adopting ITaaS (IT-as-a-service) as it minimizes the up-front cost of IT expenditures and to implement flexible and customizable IT solutions as per business requirements. To offer a seamless user experience, this end user segment is increasingly focusing on multichannel interactions.

Geographical segmentation and analysis of the IT-as-a-service market

• Americas
• APAC
• EMEA

The growing need for the global enterprises in Americas to develop IT infrastructure to gain a competitive edge and the increasing competition among the IT service providers influences the demand for IT services in this region. Various firms in America have implemented various cost-effective and automated IT solutions such as IT outsourcing or cloud computing services that have emerged as a viable option for enterprises.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global IT-as-a-service market?
• What are the key market trends impacting the growth of the global IT-as-a-service market?
• What are the challenges to market growth?
• Who are the key vendors in the global IT-as-a-service market?
• What are the market opportunities and threats faced by the vendors in the global IT-as-a-service market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global IT-as-a-service market?

Technavio also offers customization on reports based on specific client requirement.

Managing IT is a complex activity, and businesses usually hire people or teams to take care of their IT infrastructure, and yet are not be able to manage it efficiently. IT as a service provides a business with the exact amount of hardware, software, and support it requires in exchange for a fee. IT as a service is an emerging part of Technavio’s ICT industry, which covers related sectors such as IT security, machine to machine (M2M) and connected device, data center, IT spending, and product lifecycle management. The upcoming research report on the global IT as a service explores the emerging market by observing factors such as market size, technological advancements, and market growth potential; thus, helping clients gain a broad overview of the market.

To accurately forecast the growth prospect of this market, market research experts at Technavio involve in exhaustive primary and secondary research collecting data and insights from suppliers, vendors, businesses, solution providers, and other key stakeholders. The upcoming research report on the global IT as a service market also considers the growth of related markets such as global sourcing software market and global event management software market, which are expected to grow at a CAGR of 8% and 10%, respectively, for the forecast period of 2017 to 2021. Managing IT infrastructure is a big hassle, and it diverts a company’s attention from more productive tasks. IT as a service enables businesses to focus their time and resources sponsoring innovations instead of running IT and managing costs.

The upcoming report on the IT as a service market also offers insights on emerging trends in this sector and an analysis of the market size by customer type, consumer behavior, and opportunities and challenges faced by this industry. The report also gathers business intelligence data from related sectors such as IT professional services, ITO and BPO, automatic identification system, cloud computing, and IT hardware.