Information Technology Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 4/2/2018
SIC Codes: 7371, 7373
NAICS Codes: 5415
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Information Technology Services Industry Profile

Companies in this industry provide services such as software support, computer systems design, and data processing facilities management. Major companies include Computer Sciences Corporation (CSC), Cognizant, Dell Technologies, and the technology consulting arm of IBM (all based in the US), along with Accenture (Ireland), Cap Gemini (France), Wipro (India), and Tata Consultancy (India).

Worldwide spending on IT services is about $920 billion annually, according to Gartner. The IT services sector has been expanding rapidly in the emerging export nations of Costa Rica, South Korea, Japan, Belarus, and Brazil, according to the World Trade Organization.

The US information technology (IT) services industry includes about 140,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $350 billion.


Demand for IT services is driven by rapid technological advances, but spending depends on the health of the US economy. The profitability of companies depends on technical expertise, innovative services, and effective marketing. Large companies have advantages in broad service offerings and global reach, which give them the ability to provide outsourcing services to big corporate customers. Small companies can compete effectively by specializing in market niches or by partnering with larger companies that want to broaden their mix of services. The US industry is fragmented: the 50 largest companies account for about 40% of revenue.

Competition comes in multiple forms, including offshore providers, service arms of large global technology ...

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