In this article, we are going to list the 15 largest IT services companies in the world. Click to skip ahead and jump to the 5 largest IT service companies in the world.
As the world matured gracefully with modernization, one of the key players that save the economy is information technology services. IT services are the services used by businesses to assess, manage, and deliver information, as well as to assist other business functions. These services include consulting, product design, software development, system integration, as well as more “hands-on” tasks such as hardware deployment and support, training, and education, and hosted and outsourced IT services. Today, IT solutions empower private and public companies all over the world.
IT services have a huge umbrella of services and solutions such as cloud computing. Cloud computing is a key segment of the IT services market which refers to essential software or programs you can access anytime and anywhere as long as you have an internet connection. Dropbox (NASDAQ: DBX) and ServiceNow (NYSE: NOW) are just two of the 15 biggest cloud-computing companies in the world. On the other hand, database management is also one of the major segments of the IT service industry. One of the most reliable IT service companies for database management is Oracle Corporation (NYSE: ORCL). Database management includes the organization of essential data to ensure compliance, security, and performance of data-driven applications. Other segments of IT consulting services include software support, network security, and data storage.
According to an IT Market Model by Statista, the expenditure on the global IT services market is expected to reach $853 billion by 2021, up from $737 billion in 2017. North America is the largest growing market for IT services due to the presence of a robust IT infrastructure. The IT services market is expected to register a compound annual growth rate (CAGR) of approximately 8.87% during the forecasted period (2020-2025). The key reason for this economic development for this sector is the increased demand for apps and social media channels such as Google Hangouts, WhatsApp Video Call, Zoom, and Microsoft Teams. Due to coronavirus, many opportunities have been opened up in the IT industry, such as the growing need for 5th generation (5G) technology. As a result of the pandemic, remote interaction has become a top priority for many organizations. Remote interaction would not only benefit companies from imposing remote work. Telemedicine is one of the emerging industries during the COVID-19 recession. This could help patients to get diagnosed and treated without a doctor’s need to be physically present.
There is no doubt the COVID-19 has greatly affected many businesses around the world and the IT service industry is not exempted from it. As a result, global IT leaders reset their plans in the short term to withstand the uncertainty. Accenture is one of the most renowned IT service companies in the world. In the middle of the pandemic, Accenture developed an operating model that harnesses modern and emerging technologies to constantly push the limits of today’s systems and business models, including artificial intelligence, distributed ledger technology, and quantum computing.
So what are the largest IT services companies in the world? To give you the most accurate ranking, we gathered key figures of each company such as revenue, market cap, assets, and the number of employees according to Forbes. We listed the IT service companies from the smallest to largest starting at number 15:
15. Infosys Technologies (NYSE: INFY)
Revenue: $12.8 billion
Market Cap: $40.6 billion
Assets: $12.3 billion
Headquarters: Bangalore, India
Infosys is a global digital service and consulting technology leader providing comprehensive IT business solutions for engineering and BPO industries. In 2017, Infosys positioned as a “major player” in the IDC MarketSpacein EMEA Utilities. The company develops its technology services, including application management; cloud, infrastructure, and security; engineering services; enterprise mobility; Internet of Things (IoT), and testing.