Information Technology as a Service (ITaaS) Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis | MarkNtel

MarkNtel Advisors recently published a detailed industry analysis of the Information Technology as a Service (ITaaS) Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Information Technology as a Service (ITaaS) Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028

The Information Technology as a Service (ITaaS) Market size was valued at USD48 billion in 2022 and is projected to grow at a CAGR of around 28% during the forecast period, i.e., 2023-28.

What are the major Driver the Information Technology as a Service (ITaaS) industry?

Growing Inclination of Enterprises toward Agile, Scalable, & Cost-Effective IT Solutions & Services: The ever-growing proliferation of cloud computing among businesses to increase flexibility, minimize infrastructure costs, and access various IT resources & applications on-demand, coupled with digitalization trends in organizations, is accelerating the adoption of ITaaS, which enables businesses to pay for resources & services on a consumption-based model and thus reduces the need for large upfront capital expenditures, thereby enabling cost optimization and efficient resource allocation. In addition, ITaaS allows businesses to scale their IT resources up or down as per business needs, ensuring that organizations can handle fluctuating workloads and seasonal requirements without overprovisioning or experiencing resource shortages. Hence, the rising need of enterprises for agility, scalability, & cost-effectiveness in business operations is the prime aspect projected to drive the Global Information Technology as a Service (ITaaS) Market through 2028.

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What segments define the Information Technology as a Service (ITaaS) market from 2023 to 2028? How do these segments contribute to market dynamics and growth?

• By Service
• Professional Services- Market Size & Forecast 2018-2028, USD Million
• System Integration
• Training & Education
• Consulting
• Managed Services- Market Size & Forecast 2018-2028, USD Million
• Telecom Services- Market Size & Forecast 2018-2028, USD Million

According to report, Of these three, telecom services hold a notable share of the Global Information Technology as a Service (ITaaS) Market.

• By Material
• Polymer - Market Size & Forecast 2018-2028, USD Million
• Metal- Market Size & Forecast 2018-2028, USD Million
• Ceramics- Market Size & Forecast 2018-2028, USD Million
• Biomaterial- Market Size & Forecast 2018-2028, USD Million

According to report, Here, the BFSI sector is among the prominent end-users in the Global Information Technology as a Service (ITaaS) Market.

• By Deployment
• Cloud- Market Size & Forecast 2018-2028, USD Million
• On-premises- Market Size & Forecast 2018-2028, USD Million
• By Organization Size
• Large Enterprises- Market Size & Forecast 2018-2028, USD Million
• Small & Medium Enterprises- Market Size & Forecast 2018-2028, USD Million
• By End Users
• Government & Defense- Market Size & Forecast 2018-2028, USD Million
• BFSI- Market Size & Forecast 2018-2028, USD Million
• Healthcare- Market Size & Forecast 2018-2028, USD Million
• Media & Entertainment- Market Size & Forecast 2018-2028, USD Million
• Consumers Goods & Retail- Market Size & Forecast 2018-2028, USD Million
• IT & Telecom- Market Size & Forecast 2018-2028, USD Million
• Others- Market Size & Forecast 2018-2028, USD Million

Explore the Complete Information Technology as a Service (ITaaS) Market Analysis Report – https://www.marknteladvisors.com/research-library/itaas-market.html

Geographical Analysis: Information Technology as a Service (ITaaS) Market

o   North America

o   South America

o   Europe

o   The Middle East & Africa

o   Asia-Pacific

Information Technology as a Service (ITaaS) Market Share & Competitive Landscape:

The Information Technology as a Service (ITaaS) Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Information Technology as a Service (ITaaS) Market are:

• Accenture Plc
• BMC Software Inc.
• Broadcom Inc.
• Cisco Systems Inc.
• Dell Technologies Inc.
• OpenText Corporation
• ServiceNow Inc.
• GigaSpaces Technologies
• HP
• Micro FO
• Citrix Systems
• Adaptive Computing
• VMware
• RedHat

Information Technology as a Service (ITaaS) Industry Recent Development:

• On 26 July 2023, ServiceNow and KPMG announced an expanded commitment to reimagine finance, supply chain, & procurement operations. Under this, KPMG will use ServiceNow's recently announced AI?powered Finance and Supply Chain Workflows, which complement customers' existing procurement & supply chain systems, streamline processes, and improve the employee experience while helping reduce costs & increasing efficiency, thereby modernizing their own processes and enhancing the employee experience.
• On 25 April 2023, GigaSpaces announced that its operational data hub platform, Smart DIH, will be offered 'as-a-Service' to select enterprises participating in the company's early adopter program. The new delivery method will include self-service tools for easy ramp-up, offering high flexibility in extending the service based on ever-evolving business requirements.
• On 1 March 2023, OpenText™ announced that Bayer selected OpenText™ Business Network Cloud Enterprise as a strategic solution for select B2B integration activities within the divisions- Consumer Health & Pharmaceuticals; to increase agility & improve operational efficiencies. The collaboration was initiated with a proof-of-concept to be followed by roll-out activities.

 Questions Addressed in this Study

1.What factors are driving the Information Technology as a Service (ITaaS) Market growth?

2.How is the Information Technology as a Service (ITaaS) Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Information Technology as a Service (ITaaS) Market?

4.What is the current size of the Information Technology as a Service (ITaaS) Market, and how is it projected to change in the future?

6.What is the future outlook for the Information Technology as a Service (ITaaS) Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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