Navigating a trillion-dollar transformation, the IT services consulting industry is rapidly reshaping the global business landscape.
Key Takeaways
- The global IT services market size was valued at USD 1.2 trillion in 2022 and is projected to reach USD 1.8 trillion by 2030, growing at a CAGR of 5.2%.
- IT consulting services accounted for 28% of the total IT services market revenue in 2023, totaling approximately USD 384 billion worldwide.
- North America dominated the IT services consulting market with a 38% share in 2023, driven by high cloud adoption.
- Accenture reported FY2023 revenue of USD 64.1 billion, with 45% from consulting services.
- Deloitte's global consulting revenue reached USD 26 billion in FY2023.
- IBM Consulting generated USD 19.3 billion in revenue for 2023.
- The IT services industry employed 12 million professionals globally in 2023.
- India had 5.4 million IT professionals in IT services in 2023.
- US IT consulting workforce numbered 1.2 million in 2023.
- Accenture holds 8.5% market share in global IT consulting 2023.
- Deloitte commands 7.2% share in IT services consulting worldwide 2023.
- TCS market share 5.8% in global IT services 2023.
- Cloud services market to grow to USD 1.5 trillion by 2030 at 16.5% CAGR.
- AI adoption in IT consulting projected to drive 40% revenue growth by 2027.
- 75% of enterprises to shift to hybrid cloud by 2025.
The IT consulting industry is rapidly expanding globally, driven by digital transformation and cloud adoption.
Employment and Workforce
- The IT services industry employed 12 million professionals globally in 2023.
- India had 5.4 million IT professionals in IT services in 2023.
- US IT consulting workforce numbered 1.2 million in 2023.
- Women representation in global IT services workforce was 30% in 2023.
- Average salary for IT consultants in US was USD 120,000 in 2023.
- Europe IT services employment 2.5 million in 2023.
- 25% growth in demand for cloud architects in IT consulting 2022-2023.
- Global IT services attrition rate averaged 15% in 2023.
- 1.5 million new IT jobs created in Asia-Pacific IT services 2023.
- Cybersecurity experts shortage 3.5 million globally in 2023.
- Average tenure of IT consultants 3.2 years in 2023.
- 40% of IT services workforce freelance/contract in US 2023.
- UK IT services employment 500,000 in 2023.
- AI/ML specialists demand up 74% in IT consulting 2023.
- Global upskilling investment in IT workforce USD 100 billion 2023.
- Entry-level IT consultant salary India INR 5 lakh (USD 6,000) 2023.
- 28% of IT services jobs remote in 2023 post-pandemic.
- Diversity hiring in IT consulting up 12% in 2023.
- Brazil IT services workforce 800,000 in 2023.
- Senior IT consultant salary Europe EUR 90,000 average 2023.
- 2 million IT apprentices trained globally 2023.
- Gender pay gap in IT services 18% globally 2023.
- Philippines BPO/IT services 1.5 million employed 2023.
- Data scientists in IT consulting 500,000 worldwide 2023.
- Workforce productivity in IT services up 10% with automation 2023.
- Australia IT consulting employment 200,000 in 2023.
- Mental health support programs in 65% of IT firms 2023.
Employment and Workforce Interpretation
In 2023, the global IT services industry, while thriving with millions of jobs and hefty investments, operated like a high-stakes, high-turnover talent bazaar—struggling to close a yawning skills gap and a stubborn gender pay gap, all while desperately trying to upskill and retain a workforce that increasingly prefers to work remotely or freelance.
Key Players and Market Share
- Accenture holds 8.5% market share in global IT consulting 2023.
- Deloitte commands 7.2% share in IT services consulting worldwide 2023.
- TCS market share 5.8% in global IT services 2023.
- IBM Global Services 4.1% market share 2023.
- Infosys 4.5% share in IT outsourcing consulting 2023.
- Cognizant 3.2% market share 2023.
- Wipro 2.8% share in IT consulting 2023.
- HCL Technologies 2.5% market share 2023.
- Genpact 1.8% share focused on digital IT services 2023.
- DXC Technology 1.6% market share 2023.
- Atos 1.4% global IT services share 2023.
- NTT Data 3.7% market share 2023.
- Accenture leads US IT consulting with 12% share 2023.
- Deloitte top in Europe with 9% share 2023.
- TCS dominates India IT services 25% share 2023.
- IBM #1 in cloud consulting market share 15% 2023.
- Capgemini APAC share 6% 2023.
- Cognizant healthcare IT consulting 8% share 2023.
- Infosys BFSI consulting 10% share 2023.
- Wipro manufacturing IT services 7% share 2023.
- HCL product engineering 12% share 2023.
- EPAM digital engineering 5% share 2023.
- Globant LatAm IT consulting 15% share 2023.
- Sopra Steria France IT services 10% share 2023.
- NTT Data Japan 20% share 2023.
- Accenture strategy consulting sub-segment 20% share 2023.
Key Players and Market Share Interpretation
In the grand chessboard of global IT consulting, a few giants like Accenture and Deloitte command the center of the board, but the real game is won in the specialized corners where each player, from TCS in India to IBM in the cloud, becomes an undisputed king of its own niche.
Market Size and Growth
- The global IT services market size was valued at USD 1.2 trillion in 2022 and is projected to reach USD 1.8 trillion by 2030, growing at a CAGR of 5.2%.
- IT consulting services accounted for 28% of the total IT services market revenue in 2023, totaling approximately USD 384 billion worldwide.
- North America dominated the IT services consulting market with a 38% share in 2023, driven by high cloud adoption.
- The Asia-Pacific IT services market is expected to grow at the highest CAGR of 7.8% from 2024 to 2030 due to digital transformation initiatives.
- Enterprise IT spending on consulting services reached USD 567 billion in 2023 globally.
- The IT services market in Europe was valued at EUR 250 billion in 2022, with consulting comprising 32%.
- Cloud consulting services segment grew by 15% YoY in 2023, contributing to overall market expansion.
- Global IT outsourcing market, a subset of services consulting, hit USD 576 billion in 2023.
- Digital transformation consulting market size stood at USD 45 billion in 2023, projected to USD 120 billion by 2030.
- IT services market in India grew 12% in FY2023 to USD 245 billion.
- Cybersecurity consulting services market valued at USD 50 billion in 2023, growing at 14% CAGR.
- The US IT consulting market size was USD 350 billion in 2023.
- Latin America IT services market expected to reach USD 100 billion by 2027 at 6.5% CAGR.
- AI consulting services market grew to USD 10 billion in 2023.
- Middle East IT services market size USD 35 billion in 2023, with 8% growth.
- IT services consulting for SMEs market segment valued at USD 150 billion globally in 2023.
- Global managed IT services market reached USD 300 billion in 2023.
- ERP consulting services contributed USD 40 billion to IT services in 2023.
- The IT services market in China was USD 200 billion in 2023, growing 10%.
- Blockchain consulting market size USD 5 billion in 2023, projected 60% CAGR.
- IT services market post-COVID recovery showed 6.5% growth in 2022-2023.
- Hybrid cloud consulting services market at USD 20 billion in 2023.
- Global IT professional services market USD 800 billion in 2023.
- IoT consulting services valued at USD 15 billion in 2023.
- IT services in healthcare consulting segment USD 30 billion in 2023.
- Fintech IT consulting market size USD 25 billion in 2023.
- Retail IT services consulting USD 40 billion globally in 2023.
- Manufacturing IT consulting market USD 50 billion in 2023.
- Energy sector IT services USD 20 billion in 2023.
- Telecom IT consulting USD 60 billion worldwide 2023.
Market Size and Growth Interpretation
The global IT services consulting industry is now a trillion-dollar playground where everyone is frantically hiring guides to help them navigate the digital jungle, proving that the most valuable commodity in the technology gold rush is not the pickaxe, but the map.
Revenue and Financials
- Accenture reported FY2023 revenue of USD 64.1 billion, with 45% from consulting services.
- Deloitte's global consulting revenue reached USD 26 billion in FY2023.
- IBM Consulting generated USD 19.3 billion in revenue for 2023.
- Capgemini Group's IT services revenue was EUR 18.2 billion in 2023.
- Cognizant revenue from IT services and consulting hit USD 19.4 billion in 2023.
- Infosys consulting and digital services revenue USD 12.3 billion in FY2023.
- TCS (Tata Consultancy Services) total revenue USD 27.9 billion in FY2023, 30% from consulting.
- Wipro's Americas 1 revenue (IT services) USD 7.5 billion in FY2023.
- HCL Technologies IT and business services revenue INR 75,000 crore (USD 9 billion) in FY2023.
- DXC Technology revenue USD 13.7 billion in FY2023, primarily IT services.
- Atos IT services revenue EUR 8.9 billion in 2023.
- NTT Data revenue JPY 3.4 trillion (USD 23 billion) in FY2023.
- Sopra Steria Group consulting revenue EUR 2.5 billion in 2023.
- Globant IT consulting revenue USD 2.1 billion in 2023.
- EPAM Systems revenue USD 4.6 billion in 2023, focused on digital consulting.
- Genpact revenue USD 4.5 billion in 2023, with IT services core.
- Accenture's managed services revenue USD 28.8 billion in FY2023.
- Deloitte US consulting revenue USD 18 billion in FY2023.
- IBM's growth markets consulting revenue USD 4.5 billion in 2023.
- Capgemini North America revenue EUR 5.1 billion in 2023.
- Cognizant's digital business revenue USD 12.5 billion in 2023.
- Infosys digital services revenue USD 9.8 billion in FY2023.
- TCS North America revenue USD 16.2 billion in FY2023.
- Wipro IT services gross margin 18.5% in FY2023.
- HCL Tech engineering services revenue USD 3.2 billion FY2023.
- DXC gross profit USD 2.1 billion in FY2023.
- Atos EBITDA EUR 1.2 billion in 2023.
- NTT Data operating profit JPY 250 billion FY2023.
- Sopra Steria operating margin 8.2% in 2023.
- Globant gross margin 37.4% in 2023.
- EPAM EBITDA USD 800 million in 2023.
- Genpact adjusted EBITDA USD 900 million 2023.
- Accenture operating margin 15.6% FY2023.
Revenue and Financials Interpretation
In the vast ecosystem of IT consulting, Accenture stands as a continental behemoth, generating more revenue from consulting alone than the entire global revenue of many of its celebrated competitors.
Trends and Future Outlook
- Cloud services market to grow to USD 1.5 trillion by 2030 at 16.5% CAGR.
- AI adoption in IT consulting projected to drive 40% revenue growth by 2027.
- 75% of enterprises to shift to hybrid cloud by 2025.
- Cybersecurity spending in IT services to reach USD 200 billion by 2028.
- Edge computing consulting demand up 30% annually through 2030.
- Sustainability IT consulting to grow 25% CAGR to 2030.
- Low-code/no-code platforms to handle 70% app dev by 2025.
- Quantum computing pilots in consulting to triple by 2026.
- Metaverse services market USD 800 billion by 2030.
- 5G integration consulting to peak 2027 with USD 50 billion market.
- Generative AI to automate 30% IT consulting tasks by 2027.
- Zero-trust architecture adoption 60% by 2025.
- Blockchain in supply chain consulting up 50% by 2026.
- Digital twins market in IT services USD 100 billion by 2030.
- Remote work IT support services permanent 40% increase.
- ESG reporting consulting mandatory for 80% firms by 2026.
- AR/VR training in IT workforce to dominate by 2028.
- Hyperautomation to cover 50% processes by 2025.
- Composable enterprise architecture 50% adoption 2026.
- Customer experience platforms consulting USD 30 billion by 2027.
- Sustainable data centers 70% priority by 2030.
- Multicloud management services 90% enterprises by 2025.
- Predictive analytics in consulting 80% usage by 2027.
- Robotics process automation market USD 25 billion by 2028.
- Web3 consulting emerging with 100% growth 2024-2026.
- Autonomous operations in IT services 40% by 2030.
- Space tech IT consulting niche USD 10 billion by 2030.
- Privacy-enhancing computation key trend post-2025.
- Neuromorphic computing pilots rise 2026.
- Industry 5.0 consulting shift from 4.0 by 2028.
- Decentralized identity management 50% adoption 2030.
Trends and Future Outlook Interpretation
The future of IT consulting is a mad dash to monetize every conceivable digital frontier, from quantum puzzles and metaverse billboards to sustainable data centers, all while desperately trying to secure a hybrid, multi-cloud, AI-automated, and now remotely supported enterprise world that is fundamentally allergic to being hacked.
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