Enjoy complimentary customisation on priority with our Enterprise License!
The information services market size is projected to increase by USD 85.61 billion at a CAGR of 9.14% between 2023 and 2028. Market growth hinges on various factors, such as the utilization of information services for risk management, the provision of customer-centric solutions, and automation in gathering information. These elements collectively shape market dynamics, reflecting the evolving landscape of risk management and customer service strategies. With a focus on innovation and efficiency, the market anticipates sustained growth opportunities driven by advancements in information technology and data-driven decision-making processes.
Moreover, the market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about 20 market companies, including Australian Associated Press, Bloomberg LP, Clarivate PLC, Cuyahoga County Public Library, FUJIFILM Corp., GISP Group, King County Library System, Moodys Corp., News Corp., Nexstar Media Group Inc., Queens Public Library, RELX Plc, S and P Global Inc., The New York Public Library, The New York Times Co., Thomson Reuters Corp., United Press International Inc., and Wolters Kluwer NV. Additionally, Agence France Presse company offers information services through texts, pictures, videos, interactive graphics, and videographics.
For More Highlights About this Report, Download Free Sample in a Minute
The market encompasses various sectors, including B2B and B2C segments, as well as social platforms. With the rise of remote work and collaboration tools, the demand for sustainable information practices has grown. Companies focus on personalized user experiences and rely on business information service providers for insights. Leveraging technology and efficient data collection and processing processes, businesses adapt their marketing plans, advertising campaigns, and branding instruments to meet shifting customer preferences. They collaborate with information solution providers to align with their company business strategy. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The use of information services for risk management is a key factor driving market growth. In this era of globalization, enterprises are focusing on expanding their presence in both domestic and international markets. Many external and internal factors, such as technological advances, government policies, exchange rates, and credit and operational risks, pose substantial risks to businesses. Information systems help organizations mitigate and handle these risks effectively by providing updated data collection and processing processes points about the market in which the companies operate, business information service providers, competitor strategies, technology adoption, and others.
Consequently, such information tools are developed by individuals who have substantial industry expertise and can help organizations manage as well as reduce their business risks. Further, information companies provide environmental, social platforms, governance (ESG)-relevant data, and social networking sites, which include climate and energy transition, private assets and SMEs, counterparty risk management, supply chain, and trade. Hence, organizations that face business risks are adopting information services to manage external and internal factors, thus driving the growth of the market in focus during the forecast period.
The emergence of AI in information management will fuel market growth. Several enterprises across the world are integrating AI to develop and exploit data from information services. Integrating AI in information services helps automate several processes and enhances process efficiency. Besides, in enterprises, half of the employees spend time doing paperwork. This reduces the overall ROI of enterprises and increases their costs. Thus, enterprises are opting for information services integrated with advanced technologies such as AI.
Moreover, integrating AI enhances the efficiency and process integrity of information services. Besides, AI is used to categorize and tag information, which makes it easy to find the information or data in the future. There are several other advantages of AI in information services, such as applying structure to unstructured data, streamlining information, enhancing information security, and improving data quality. Such advantages of AI in information services are anticipated to increase the efficiency of the market players during the forecast period.
Data misappropriation, theft, and cybersecurity issues are the major challenges impeding market growth. Information service providers deal with critical and confidential data related to enterprises and individual users. Any planned or accidental data breach, which leads to such confidential data being accessible to unauthorized individuals and entities, could result in heavy financial losses for enterprises and individuals. Besides, the use of the cloud and digital sharing of files between the information provider and organization could lead to the loss or theft of data if the connection is not secure.
Additionally, market players such as Equifax, a US-based credit rating agency for individuals and businesses, have also been targeted by hackers. Such incidents of data theft can damage the reputation of information service providers and lead to a decline in their revenues. Besides, stringent government regulations compel banks to invest in technologies to maintain the required capital adequacy ratio. This has led to the emergence of fintech players that are customer-friendly and do not need to maintain the capital adequacy ratio. Hence, data breaches may hamper the growth of the market in focus during the forecast period.
The market share growth by the news syndicates segment will be significant during the forecast period. News syndicates include supplying information such as news and related articles. In the media sector, information can be news, magazines, journals, website data analysis, business analysis, and others. The news syndicates segment is growing due to the increasing need for news organizations to make better decisions. This, in turn, helps them increase their TRPs, maximize their media budget, and reach the maximum readership.
Get a glance at the market contribution of various segments Download the PDF Sample
The news syndicates segment showed a gradual increase in the market share of USD 56.34 billion in 2018. Also, mobile-based information services allow users to access data, news, and analytics from any connected mobile or computing device. With the help of mobile-based apps, users can get real-time updates on market events, news, and research articles. Bloomberg LP (Bloomberg) and Thomson Reuters Corp. (Thomson Reuters) are some of the companies that provide mobile-based information services apps. The growth of this segment is primarily attributed to the increasing adoption of information services, which is driven by an increase in the market during the forecast period.
Market Segmentation By End-user
The automotive?segment will account for the largest share of this segment.?The rise of connected vehicles generates vast data volumes, necessitating information services for data collection, analysis, and utilization. Automotive OEMs rely on these services for cybersecurity, threat detection, and enhancing customer experiences through vehicle tracking and remote diagnostics. Additionally, information services provide market insights for strategic planning and decision-making. S&P Global Inc.'s Entity Insights platform offers real-time entity due diligence profiles and continuous monitoring for Know-Your-Customer protocols, driving growth in the automotive segment of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 38% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. APAC is the fastest-growing market for information services, as several organizations are providing services to Asian clients as well as Western clients in the US, Europe, and other regions. Besides, competitive pricing and strong infrastructure are some of the factors boosting the market in focus in APAC. The consumption of mobile-based information services is an upcoming trend in the region. Mobile-based information solutions allow users to access data, news, and analytics from any connected mobile phone or computing device.
The market forecasting report includes the adoption lifecycle of the market research and growth, 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 market growth and trends strategies.
Global 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.
Market analysis and report of 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 market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
In today's digital era, information services are paramount for businesses aiming at operational efficiency and digital transformation. IT professional service providers offer a range of solutions, from managed services to consulting services and data analytics. Industries like Banking, Financial Services, and Insurance (BFSI), Retail and E-commerce, and Healthcare and Life Sciences heavily rely on cloud deployment and data management for streamlined administrative processes and data security. As internet usage grows, the demand for knowledge-based services and data visualization continues to surge, driving the growth of the market.
Further, in the ever-evolving landscape of the market, factors like regulatory changes and cybersecurity concerns play a pivotal role. The integration of artificial intelligence (AI) and blockchain technology enhances data monetization and fosters trust and transparency. With a focus on big data and analytics, businesses leverage IT services for efficient data storage and warehousing in cloud-based environments. The proliferation of internet-connected devices and digital platforms drives the demand for business intelligence and telecommunications solutions, shaping the future of the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.14% |
Market Growth 2024-2028 |
USD 85.61 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.49 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agence France Presse, AGS Corp., Australian Associated Press, Bloomberg LP, Clarivate PLC, Cuyahoga County Public Library, FUJIFILM Corp., GISP Group, King County Library System, Moodys Corp., News Corp., Nexstar Media Group Inc., Queens Public Library, RELX Plc, S and P Global Inc., The New York Public Library, The New York Times Co., Thomson Reuters Corp., United Press International Inc., and Wolters Kluwer NV |
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. |
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. Get in touch
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.