PUBLISHER: IMARC | PRODUCT CODE: 1642680
PUBLISHER: IMARC | PRODUCT CODE: 1642680
The global information technology as a service (ITaaS) market size reached USD 77.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 368.2 Billion by 2033, exhibiting a growth rate (CAGR) of 17.9% during 2025-2033. The increasing adoption of cloud computing and its associated services, growing demand for cost-effective and efficient IT infrastructure and services, the rising need for digital transformation initiatives, and the surging complexity and volume of data generated by organizations represent some of the key factors driving the market.
Information technology as a service (ITaaS) is a cloud-based service model that delivers technology resources and capabilities to organizations. It offers umpteen advantages, including flexibility, scalability, and reduced capital expenditures. It includes a wide range of IT services, such as hardware, software, networking, storage, security, and support. ITaaS provides several benefits to organizations, including cost savings, increased agility, access to advanced technology, reduced IT complexity, and improved focus on core business activities. It also offers helpdesk support to assist organizations and employees with technical issues and inquiries and provides robust security services to protect against cyber threats and ensure data privacy.
The global information technology as a service (ITaaS) market is accelerated by various factors, including the increasing adoption of cloud computing and its associated services. Cloud computing offers the infrastructure, platform, and software services needed to deliver ITaaS. Moreover, the growing demand for cost-effective and efficient IT infrastructure and services and the rising need for digital transformation initiatives are providing an impetus to the market growth. Apart from this, the widespread software adoption as it offers robust security measures, data protection, and compliance capabilities, owing to the rising cyber threats and attacks, is acting as another growth-inducing factor. Furthermore, the increasing complexity and volume of data generated by organizations and the emergence of remote work and distributed workforce models, accelerated by the COVID-19 pandemic, are influencing the market growth. Besides this, the shifting focus on cybersecurity and data protection and the proliferation of Internet of Things (IoT) devices are providing an impetus to the market growth. Other factors, such as the rapid growth of the healthcare sector, the need for secure and efficient healthcare IT systems, and the influence of regulatory compliance requirements, particularly in highly regulated industries such as finance and healthcare, are augmenting the market growth.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.