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.
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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
Employees: 204,107
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.
14. Cognizant Technology Solutions Corp (NASDAQ: CTSH)
Revenue: $16.8 billion
Market Cap: $43.34 billion
Assets: $16.2 billion
Employees: 292,500
Headquarters: Teaneck, New Jersey
Cognizant Technology Solutions Corp. is offering a full range of information technology, consulting, and outsourcing services for business processes. Cognizant provides IT solutions and IT services to large companies, including software development, maintenance and testing of applications, and the development of digital infrastructure. The top revenue line of Cognizant is financial services, accounting for just over a third of its business. It also creates and supports health care software, which accounts for 28% of its revenue.
13. CAPGEMINI SE (EPA: CAP)
Revenue: $18.8 billion
Market Cap: $15.9 billion
Assets: $20.4 billion
Employees: 270,000
Headquarters: Paris, France
Capgemini is one of the largest IT services companies in the world with more than 270,000 team members in nearly 50 countries and partnerships with a wide range of technology providers. Capgemini is a world leader in consulting, digital transformation, technology, and engineering services. Capgemini incorporates strategy, technology, data science, and creative design to address the most complex business and technology issues.
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12. DXC Technology Co (NYSE: DXC)
Revenue: $20 billion
Market Cap: $6.19 billion
Assets: $29.6 billion
Employees: 130,000
Headquarters: Tysons, Virginia
DXC Technology is one of the world’s leading independent, end-to-end IT service and solutions company. DXC is a Fortune 500 company, represented in the S&P 500 Index. DXC Technology operates mission-critical infrastructures and solutions with the latest technology innovations to deliver better business outcomes and new levels of performance. The company serves 6,000 private and public-sector customers in 70 countries.
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11. NTT Data Corp
Revenue: $20.5 billion
Market Cap: $15.75 billion
Employees: 123,884
Headquarters: Tokyo, Japan
NTT DATA is a global provider of business and IT services with more than 100,000 professionals in more than 50 countries. In 1967, the Nippon Telegraph and Telephone Public Corporation, known as the NTT, decided to set up the DATA Communications Office, known as the NTT DATA. Today, NTT DATA has led the information services industry while developing business primarily in the field of social infrastructure and computer systems in Japan.
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10. TATA Consultancy Services (NES: TCS)
Revenue: $22.1 billion
Market Cap: $100.7 billion
Assets: $16 billion
Employees: 446,675
Headquarters: Mumbai, India
Tata Consultancy Services India’s top-leading IT service company. The IT company engages in a variety of technology-related businesses such as application development and maintenance, business intelligence, enterprise solutions, assurance services, engineering, and industrial services, infrastructure services, consulting, asset leveraged Solutions, and business process services. The company was founded in 1968 and over the years, Tata CS Ltd has established operations in the fields of insurance, banking, manufacturing, retail, and communication and media industries.
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9. Synnex Corp (NYSE: SNX)
Revenue: $23.8 billion
Market Cap: $4.2 billion
Assets: $11.7 billion
Employees: 235,000
Headquarters: Fremont, California
Synnex is not a typical IT company, but rather a business process outsourcing firm, linking technology vendors to buyers. The company is involved in the provision of distribution, logistics, and integration services for the technology industry. The company works with software, IT systems, components, and equipment suppliers.
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8. NEC Corp
Revenue: $28.4 billion
Market Cap: $10.1 billion
Assets: $28 billion
Employees: 112,638
Headquarters: Tokyo, Japan
NEC, a leader in ICT solutions since 1899, has used its long-term IT and network expertise to tailor today’s data-driven technologies. NEC Corp is a leading Japanese company that is committed to providing systems, components, services, and integrated solutions for computing and communications applications. The company has been recognized in the Top 100 Global Innovators for eight consecutive years and is included in the Fortune Global 500. NEC works with 300 group companies in more than 50 counties all over the world.
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7. SAP (NYSE: SAP)
Revenue: $31.1 billion
Market Cap: $127.68 billion
Assets: $69.1 billion
Employees: 100,330
Headquarters: Walldorf, Germany
SAP is a remarkably powerful business application developer and IT company offering SaaS, enterprise software, business operations, and on-site management services. Its applications and solutions cover a wide range of business sectors, such as finance, human resources, manufacturing, marketing, and engineering. SAP is well-known for its IT services and solutions globally which include ERP, CRM, and Customer Experience, Digital Supply Chain, Business Technology Platform, Application Development and Integration, and Data Base and Data Management tools.
6. Fujitsu
Revenue: $35.7 billion
Market Cap: $20 billion
Assets: $28.7 billion
Employees: 132,138
Headquarters: Tokyo, Japan
Fujitsu is Japan’s largest IT service provider and one of the world’s leading software companies. It was established as a production subsidiary of Fuji Electric Limited in 1935. Since then, the company has made its way to the IT and software sectors. Today, Fujitsu offers IT services such as personal and enterprise computing, storage products, system integration, and infrastructure solutions. Also, it has a division that provides IT consulting, implementation, and management services. The company serves clients globally from over a hundred countries. Fujitsu also works together with the biggest tech companies in the world such as Microsoft and Siemens.
5. Oracle (NYSE: ORCL)
Revenue: $39.8 billion
Market Cap: $189.6 billion
Assets: $96.7 billion
Employees: 136,000
Headquarters: Redwood, California
Oracle is one of the biggest tech companies globally and the company is most famous for its ERP systems and services. Enterprise Resource Planning is a software used by organizations to manage daily business activities such as accounting, project management, procurement, risk management, and supply chain operations. Oracle offers other IT consulting services such as cloud support, AI, IoT, blockchain, and human interface technologies.
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4. Accenture (NYSE: ACN)
Revenue: $44.7 billion
Market Cap: $ 163.34 billion
Assets: $33.5 billion
Employees: 492,000
Headquarters: Dublin, Ireland
Accenture was established as a technical division of the accountancy firm Arthur Andersen, but in 1989, it became an independent company. In case you don’t know, Accenture is the abbreviation of “the accent of the future”. Accenture, a global consultancy company with 492,000 employees in more than 120 countries, presents a variety of strategic, consulting, digital, technology, and business services and solutions.
In an article, Aoris Investment Management highlighted why you should consider adding Accenture to your portfolio:
“Accenture is the world’s largest IT consulting and outsourcing company. It has $6 billion of cash on its balance sheet and negligible debt. It has unusually stable management, with an average tenure of the top 5000 executives of 15 years. Accenture has an outstanding record over the last decade of consistently taking market share, drawing on its enormous benefits of size and scale and leadership.
Over the next 6–18 months, some of Accenture’s consulting engagements will likely be deferred. On the other hand, many of Accenture’s large private and public sector clients will emerge from this period with new problems to be solved, such as the IT infrastructure to better enable safe and productive working from home in the future. We expect Accenture to take market share at an accelerating rate and have additional opportunities for sensible bolt-on acquisitions that add discrete capabilities.”
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3. Cisco Systems Inc (NASDAQ: CSCO)
Revenue: $51.6 billion
Market Cap: $187.95 billion
Assets: $90.4 billion
Employees: 75,900
Headquarters: San Jose, California
Cisco Systems is one of the biggest IT services companies in the world in terms of revenue, earning more than $50 billion annually. We all know Cisco as the tech giant to go to for switches, routers, and other networking equipment. Since 2015, the company has gone deeper into innovative software-related fields. Today, it focuses more on the Internet of Everything, cybersecurity, cloud computing, data centers, software, and analysis.
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2. IBM (NYSE: IBM)
Revenue: 77.1 billion
Market Cap: $110.79 billion
Assets: $110.79 billion
Employees: 383,000
Headquarters: Armonk, New York
International Business Machines secured the seventh spot in our list of the biggest tech companies in the world in 2020 with a revenue of over $77 billion. Also called the Big Blue, IBM’s most popular services include cloud and cognitive computing, IT infrastructure, digital security, IoT, data analytics, blockchain, and AI. IBM also develops and markets computer hardware and software and offers infrastructure, hosting, and consulting services in a variety of fields, from mainframe computers to nanotechnology. And it is no surprise, given that around 97% of banks and around 80% of retailers worldwide use their services. Today, IBM has had more than 180 acquisitions and merges including Nordcloud, TruQua, Instana, and Red Hat.
1. Dell Technologies (NYSE: DELL)
Revenue: $91.1 billion
Market Cap: $54.78 billion
Assets: $118.9 billion
Employees: 165,000
Headquarters: Round Rock, Texas
Topping our list of the 5 largest IT services company in the world is Dell Technologies. Dell tops the ranking with annual revenue of $91 billion with more than 10 million clients worldwide. Moreover, just so you know, around 99% of Fortune 500 companies are customers or partners of this digital giant as Dell Technologies is also ranked 5th biggest tech company in the world. Over time, the company focused more on software solutions such as cloud storage, virtual reality, IT infrastructure, data centers, and cybersecurity.
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Disclosure: No position. 15 largest IT services companies in the world is originally published at Insider Monkey.
