The Information and Communication Technologies (ICT) sector is a vast one with several sub-categories within it. The global IT services and software industry surpassed USD 2.35 trillion in value in 2010, according to data from leading market research agencies. However, up to 2015, the growth of this market is expected to slow down to just above 7% until the end of 2015, when its project worth will be USD 3.31 trillion.
The worldwide IT sector will witness growth that’s driven by a spurt in the number of smaller IT services and consulting firms. Another key factor that is driving the market currently is could computing. It is emerging as a preferred service delivery channel and it has become a necessity for most IT organizations to align their offerings to the cloud.
Within the IT services sector, development and integration services occupy the leading position. These services garnered revenue of over USD 254 billion in 2010, and they constitute nearly half of the entire IT services market.
Market experts have their eyes on the cloud computing services sector that is projected to be worth USD 127 billion by 2017. Currently, cloud strategy is being widely used in the IT hosting market, with users of cloud strategy ranging from small, mid-size to large businesses. Business continuity and enterprise mobility are the two key factors that have made cloud services highly accepted in the IT services sector.
As a number of companies recover from the economic recession, many of these companies are opting for cloud computing rather than relying on virtual machines.
Also, the global infrastructure-as-a-service industry is likely to record a growth rate of 28% between 2010 and 2014. However, there still persists some degree of uncertainty pertaining to the data security in cloud computing services, and this will prove to be a restraining factor for the market.
IT outsourcing is yet another market that is expected to record robust growth. Experts project a 30% growth in the global market for data center infrastructure management software between 2010 and 2014.
In the years to come, the course of the ICT sector will be defined by convergence. To gain sharp and accurate insights into the next big trend and emerging opportunities within the ICT sector, browse through the hundreds of market research reports available at ResearchMoz.us. These reports have been published by industry leading market research firms. We bring together the best collection of handpicked reports from reputable market research publishers worldwide.