Connect with us

Technology

IT Professional Services Market to Expand by USD 621.4 Billion (2024-2028), Driven by Growing Digital Transformation, Market Evolution Powered by AI – Technavio

Published

on

NEW YORK, Nov. 22, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global IT professional services market size is estimated to grow by USD 621.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of10.87%during the forecast period. Growing digital transformation is driving market growth, with a trend towards growing adoption of hybrid and multi-cloud environments. However, shortage of skilled workforce poses a challenge.Key market players include Accenture Plc, Amazon.com Inc., Atos SE, Capgemini Service SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Mahindra and Mahindra Ltd., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

It Professional Services Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.87%

Market growth 2024-2028

USD 621.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.53

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 40%

Key countries

US, UK, Canada, Germany, and China

Key companies profiled

Accenture Plc, Amazon.com Inc., Atos SE, Capgemini Service SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., Mahindra and Mahindra Ltd., Microsoft Corp., Oracle Corp., Salesforce Inc., SAP SE, Tata Consultancy Services Ltd., and Wipro Ltd.

Market Driver

IT Professional Services Market is experiencing significant trends with increasing customer demand for automation and operational efficiency. Professional service firms are adapting to business strategies such as remote working and expense management. Automated billing, consultation, audit and accounting, implementation support, and financial risk protection are in high demand. Advanced tools and analytic capabilities are essential for accurate insights in ecommerce businesses and large enterprises. Resource allocation and project management are key areas of focus, with automated tools and AI-driven solutions reducing resource wastage. Talent acquisition and resource management are crucial for firms to stay competitive, with a growing need for IT specialists in areas like cybersecurity, cloud services, and digital transformation. Economic expansion and advanced technologies like blockchain, AI, IoT, and 5G present growth opportunities for IT professional services. Firms are collaborating to offer project-oriented services, revenue management, and system integration. Business processes are being streamlined through Business Intelligence (BI) and advanced tools, while cybersecurity concerns continue to be a priority with the increasing threat of cyber breaches and cyberattacks. ITO services are essential for business operations, with a focus on scalability, automatic updates, and vertical-specific solutions. Networks, development, and deployment are critical areas of expertise, with a shift towards cloud-based services and edge cloud platforms. The NIST Cybersecurity Framework and data security concerns are driving demand for cybersecurity services. Professional services sector is evolving, with a growing emphasis on collaboration, training and education, and managed services. Telecommunication, healthcare, manufacturing, SaaS, PaaS, and LTE are some of the verticals where IT professional services are making a significant impact. Firms are offering customized solutions based on feasibility and client demands, with a focus on complex systems, machine learning, and IT infrastructure. 

The IT professional services market is witnessing a notable trend towards hybrid and multi-cloud environments. This shift is primarily driven by the demand for flexibility, scalability, and efficient resource allocation. Hybrid and multi-cloud solutions combine private, public, and on-premises infrastructure, enabling organizations to utilize multiple cloud platforms while retaining control over their data and applications. The flexibility offered by these environments allows businesses to choose the optimal cloud solution for each workload or application, ensuring optimal performance and cost savings. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

IT Professional Services market is experiencing significant challenges due to increasing customer demand for automation and operational efficiency. Professional service firms must adapt to remote working and implement business strategies for expense management and resource allocation. Project management, automated billing, consultation, audit and accounting, implementation support, and financial risk protection are essential services. Advanced tools and analytic capabilities are crucial for providing accurate insights to ecommerce businesses and large enterprises. The professional services sector faces challenges in talent acquisition, resource management, and cybersecurity. Firms must address cyber breaches and data security concerns with cloud-based services, data storing capacity, and the NIST Cybersecurity Framework. Edge cloud platforms offer scalability, automatic updates, and vertical integration for project-oriented services. Business operations and business analytics require collaboration between business strategists and IT specialists. Growth opportunities exist in advanced technologies like blockchain, AI, IoT, 5G, AR, and development. Firms must assess feasibility, address security breaches and cyberattacks, and provide system integration, training, and education. Managed services, deployment, and telecommunication are also critical areas for IT services. The healthcare, manufacturing, and SaaS industries have unique demands, requiring customized solutions.The IT professional services market faces a significant challenge due to a shortage of skilled workers. This issue impacts organizations across industries as new and evolving technologies increase the demand for professionals with current skills and knowledge. However, educational institutions find it difficult to keep up with the latest industry trends in their curricula. As a result, there is a gap between the abilities of graduates and the requirements of employers. The IT sector’s continuous evolution necessitates ongoing learning and upskilling to remain competitive. This pressure is particularly felt in areas like cybersecurity, data analytics, artificial intelligence, cloud computing, and software development, where the shortage of skilled professionals is most pronounced.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This it professional services market report extensively covers market segmentation by

Type 1.1 Project-oriented services1.2 Information technology outsourcing1.3 IT supporting and training services1.4 Enterprise cloud computing servicesEnd-user 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Project-oriented services-In the global IT professional services market, project-oriented services refer to the delivery of IT projects based on a defined scope, timeline, and set of deliverables. These services cater to unique business needs and may include timely maintenance, modernization, project installation, and decommissioning. Organizations engage IT service providers for project-oriented services when they require specialized expertise, resources, and technical skills for a specific IT initiative. These services offer benefits such as effective scope management, improved revenue management, better quotes, efficient resource management, and successful project delivery. The demand for project-oriented services is driven by these factors and is expected to fuel market growth during the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The IT professional services market is experiencing significant growth due to increasing customer demand for automation and operational efficiency. Professional service firms are responding by offering a range of services, including ITO (Information Technology Outsourcing) and business analytics, to help organizations streamline their business processes and gain a competitive edge. With the shift to remote working, expense management and resource allocation have become critical areas of focus. Project management, revenue management, and business strategies are also key areas of expertise for IT professional services. Large enterprises are turning to these services to adapt to technological developments and meet client demand. Talent recruiting and the use of tools and resources are essential for delivering high-quality services. Business plans are being reimagined to incorporate these offerings, making the professional services sector an indispensable partner for businesses seeking to thrive in today’s digital landscape.

Market Research Overview

The IT professional services market is experiencing significant growth due to increasing customer demand for automation and operational efficiency. Professional service firms are leveraging advanced tools and analytic capabilities to provide consultation, audit and accounting, implementation support, financial risk protection, and revenue management services to large enterprises and ecommerce businesses. With the shift to remote working, firms are focusing on expense management, resource allocation, project management, automated billing, and talent acquisition. Advanced technologies such as AI, IoT, 5G, AR, blockchain, and machine learning are transforming IT infrastructure, enabling scalability, automatic updates, and complex system integration. Business strategists are collaborating to develop growth opportunities and business plans, while IT specialists focus on cybersecurity concerns, data security, and the NIST Cybersecurity Framework. Cloud-based services, data storing capacity, and edge cloud platforms are essential for business operations and digital transformation. Client demands and variables are driving firms to provide project-oriented services, deployment, managed services, and training and education. Telecommunication, healthcare, manufacturing, SaaS, and PaaS are some verticals benefiting from IT professional services. Despite the opportunities, firms face challenges such as resource wastage, cyber breaches, and cyberattacks. Firms must prioritize security and ensure feasibility in their business processes to protect their clients’ data and maintain trust. Business Intelligence (BI) and resource management are crucial for accurate insights and effective decision-making. Overall, the professional services sector continues to evolve, driven by technological advancements and changing business strategies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeProject-oriented ServicesInformation Technology OutsourcingIT Supporting And Training ServicesEnterprise Cloud Computing ServicesEnd-userLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/it-professional-services-market-to-expand-by-usd-621-4-billion-2024-2028-driven-by-growing-digital-transformation-market-evolution-powered-by-ai—technavio-302313562.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

FranklinWH Joins Efficiency Maine to Help Homeowners to Earn up to $600 Annually From Home Batteries

Published

on

By

Efficiency Maine Small Battery Program taps residential storage to support grid during peak demand

SAN JOSE, Calif., April 23, 2026 /PRNewswire/ — FranklinWH, a leading provider of whole-home energy management and storage systems, announced today it is participating in the Efficiency Maine Small Battery Program, allowing Maine homeowners to earn up to $600 per battery each year by supplying stored energy to the grid during peak demand periods.

The program reflects a growing use of residential energy storage systems as both backup power sources and grid resources that can generate income while helping stabilize electricity supply.

Homeowners who enroll can allow their systems to discharge energy during peak demand events, typically on weekday evenings, in exchange for annual payments.

“I work from home, so losing power really isn’t an option,” said Brian Duggan, a Maine homeowner who has used the system for four months. “There have been several community-wide outages since we installed our system, and we didn’t even notice. Our power stayed on.” Duggan said the system is a maintenance-free alternative to a generator, pairs with electric vehicle charging, and helps protect his home during winter travel.

“This is where the economics of home energy storage are heading,” said Gary Lam, CEO of FranklinWH. “Homeowners are no longer only consumers of electricity; they’re becoming active participants in the energy system. Programs such as this allow them to receive payments while strengthening the grid in their communities.”

Maine’s virtual power plant (VPP) program is administered by Efficiency Maine, which compensates homeowners for the energy their systems send back to the grid during peak events, creating a new revenue stream tied to system participation.

Efficiency Maine may call up to 60 events per year, typically lasting three hours during peak demand windows. Homeowners receive advance notice through the FranklinWH App and can opt out of individual events or unenroll at any time. During events, a reserve level is maintained to ensure power remains available for household needs.

As utilities and policymakers look for new ways to manage rising demand and grid volatility, VPP programs are expected to expand, positioning distributed home energy systems as a critical part of the solution.

About FranklinWH

FranklinWH Energy Storage is the manufacturer of the FranklinWH System, a next-generation home energy management and storage solution. Headquartered in the San Francisco Bay Area, FranklinWH’s team brings decades of experience across energy system design, manufacturing, sales, and installation. The company is AVL-listed with multiple financial institutions and continues to empower homeowners to achieve true energy freedom. Learn more at franklinwh.com.

Media Contact:
Media@franklinwh.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/franklinwh-joins-efficiency-maine-to-help-homeowners-to-earn-up-to-600-annually-from-home-batteries-302752085.html

SOURCE FranklinWH Energy Storage Inc.

Continue Reading

Technology

Marelli highlights vehicle dynamics technologies as a competitive advantage, elevating safety, comfort and performance, at Auto China 2026

Published

on

By

The company will introduce new advanced suspension solutions such as the new Active Camber and the Electromechanical Lifter, enabling real-time control of wheel angle and vehicle heightAlso in the spotlight, the Hybrid Electromechanical Suspensions, a new architecture combining full-active actuator technology and best-in-class semi-active dampers to deliver a high-end driving experience while maintaining cost efficiency.

SAITAMA, Japan, April 23, 2026 /PRNewswire/ — At Auto China 2026 in Beijing (April 24-May 3), Marelli, a global technology partner to the automotive industry, will highlight how vehicle dynamics and advanced suspension technologies are becoming increasingly central to vehicle safety, performance, user experience, comfort and brand differentiation, also supporting the evolution toward Software-Defined Vehicles.
In this perspective, at booth n. W2B08 in Hall W2 in the New China International Exhibition Center (NCIEC), as a relevant part of its wider portfolio of solutions for different vehicle domains, the company will showcase its latest suspension and chassis innovations, suchas the new Active Camber, the Electromechanical Lifter and the Hybrid Electromechanical suspensions.

Enabled by software control and advanced electromechanical actuators, active suspension systems play a key role in determining vehicles behavior under different driving conditions, with a direct impact on overall user experience, vehicle agility and safety.

“The importance of vehicle dynamics technology spans all propulsion systems, giving automakers a decisive tool to drive vehicle distinctiveness while offering end users a wide range of personalization options.” stated Piero Monchiero, Advanced Innovation VP of Marelli’s Ride Dynamics business. “This is particularly evident in China, where customer expectations for vehicle dynamics and ride comfort continue to rise.”

Active Camber: optimal tire contact with the road to increase drivability and safety
The first relevant innovation is the Active Camber system, designed to enhance vehicle stability by correcting wheel camber in real time, improving vehicle performance and safety while delivering a more comfortable experience.

Camber is the inward or outward tilt of a wheel when viewed from the front of the vehicle. Proper camber ensures optimal tire contact with the road, improving grip for better stability, braking and acceleration, while also supporting more uniform tire wear.

The new solution presented in Beijing features an electronically controlled smart actuator with integrated sensors that continuously monitor the road surface. An intelligent control unit processes data every millisecond and automatically adjusts wheel angles in real time, adapting to driving conditions. This reduces body movement and increases grip, resulting in more precise handling and safer cornering. The solution provides a smoother experience in different conditions and contributes to extend tire life through a more even wear.

Electromechanical Lifter, smartly adapting vehicle height
Another innovation within Marelli’s suspension showcase in Beijing will be the Electromechanical Lifter, a fully electromechanical device integrated into the shock absorber that adjusts vehicle height in some specific situations. The system uses a smart actuator to deliver automatic leveling functionality, maintaining vehicle balance across varying conditions. The solution is suitable in particular for vehicle segments like sport and performance cars and sporty SUVs, addressing different use cases. Regarding sport and performance cars, it can lift the vehicle to manage garage ramps, speed bumps or snowy roads. On sporty SUVs, this technology can adjust the vehicle setup within a certain level of speed, in order to improve aerodynamics by minimizing drag. The system also facilitates easier vehicle entry and exit. The solution is oil-free, lightweight and ensures easy integration for carmakers.

New active electromechanical suspension solutions to elevate onboard experience
Designed to drive affordable innovation, the new Hybrid Electromechanical Suspension is a new suspension architecture that combines full-active actuator technology and best-in-class semi-active dampers to deliver a high-end driving experience while maintaining cost efficiency. Controlled by an Electronic Control Unit, the system integrates full-active electromechanical actuators applied to the front suspension, which provide optimal damping or self-generate reactive forces to minimize roll, pitch, yaw and vibration. These are paired with semi-active rear shock absorbers and optimize vertical dynamic response. The result is smoother driving, improved stability and enhanced safety in a variety of conditions.

This system draws from the experience of the Fully Active Electromechanical Suspension, which will also be on display at Marelli’s booth in Beijing. This oil-free solution uses four electronically controlled actuators which modulate each wheel’s suspension and damping parameters in real time, actively defining the best behavior of each vehicle’s suspension, for optimal handling and ride comfort balance. Data is processed in milliseconds to determine, through a smart algorithm, the actions required to adapt to road irregularities and driving situations, providing a “magic carpet” experience for vehicle occupants.

By enhancing stability and comfort, these two active electromechanical suspension solutions help reduce motion sickness, especially during activities like reading or using a laptop, which are expected to become more common with the rise of autonomous driving. They are also designed to recover kinetic energy, ensuring up to 80% energy efficiency compared to passive or semi-active systems.

Marelli’s booth at the Beijing Auto Show will be themed “Rooted in innovation, everywhere”, which illustrates the company’s ‘distributed’ model for high-speed innovation, to support customers wherever they need, with localized design, development, sourcing and manufacturing in China and across different regions. This approach combines local expertise and global reach to deliver affordable, scalable solutions at speed, that accelerate customers’ time-to-market. The company showcase will feature innovative solutions in several technology domains, including automotive lighting, electronics, interiors, propulsion, thermal systems, alongside a comprehensive portfolio of advanced suspension innovations.

About Marelli
Marelli is a global mobility technology supplier to the automotive sector. With a strong and established track record in innovation and manufacturing excellence, our mission is to transform the future of mobility through working with customers and partners to create a safer, greener, and better-connected world. With around 40,000 employees worldwide, the Marelli footprint includes over 150 sites globally.

Photo – https://mma.prnewswire.com/media/2964531/Marelli_Photo_1.jpg
Photo – https://mma.prnewswire.com/media/2964532/Marelli_Photo_2.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/marelli-highlights-vehicle-dynamics-technologies-as-a-competitive-advantage-elevating-safety-comfort-and-performance-at-auto-china-2026-302752087.html

SOURCE Marelli

Continue Reading

Technology

Oklahoma City Turns to ASAP Service to Speed Emergency Response

Published

on

By

Oklahoma City Police Department 911 Communications announced that it has gone live with ASAP Service, a standards-based solution developed by The Monitoring Association (TMA).

OKLAHOMA CITY, April 23, 2026 /PRNewswire-PRWeb/ —  Oklahoma City Police Department 911 Communications announced that it has gone live with ASAP Service, a standards-based solution developed by The Monitoring Association (TMA). ASAP Service automatically and digitally delivers prioritized alarm notifications to the computer-aided dispatch (CAD) systems used by emergency communications centers (ECCs) across the country. The expected results of this initiative are faster, better-informed emergency response, fewer communication errors, improved data accuracy, and reduced stress for citizens and 911 telecommunicators.

“Once ASAP Service is integrated with our CAD system, we no longer will need to dedicate a telecommunicator to monitoring the web portal,” said Katherine Underwood, the agency’s management specialist.

The first phase of the initiative deployed the solution through ASAP View, a web-based portal that reduced the city’s implementation timeline by roughly 50 percent. “Once we had the opportunity to review our call volume and processes, the value of having all the information upfront was clear,” said Katherine Underwood, the agency’s management specialist. “We moved forward with View because it was easy to implement and use, and we believe it will reduce call handling times and overall call volume. Ultimately, the benefits outweighed the manual effort, since we would have had to build those calls either way.”

However, to realize the full potential of ASAP Service — for example, address pre-verification — the city plans to integrate ASAP with its CAD system as part of phase two. CentralSquare, the agency’s CAD-system vendor, is developing an application programming interface (API) for this purpose. The API will connect to the GovCloud-hosted version of ASAP, delivering scalability, reliability, and superior data security, as well as compliance with the Criminal Justice Information System (CJIS) security standards for handling criminal-justice information.

“Once ASAP Service is integrated with our CAD system, we no longer will need to dedicate a telecommunicator to monitoring the web portal,” Underwood said.

The agency’s ECC serves about 702,000 residents and provides 911 call-taking and dispatch services for law-enforcement, fire/rescue and emergency-medical incidents. In 2025, the center received 1.48 million calls for service, plus nearly 40,000 residential and business alarm notifications, the vast majority of which pertained to law-enforcement incidents.

Regarding alarm notifications, multiple voice calls typically are needed between 911 telecommunicators and alarm-monitoring-center personnel to verify the information needed to effectively dispatch emergency response. It is a time-consuming process — industry estimates indicate that it adds from two to eight minutes to response times, an eternity when lives and property are at risk. Because telecommunicators need to type the captured information into their CAD systems, the process also is prone to miscommunications, misinterpretations, and transcription errors.

ASAP Service is architected to resolve these issues. It was developed by TMA in collaboration with the Association of Public-Safety Communications Officials (APCO). The solution is built on two TMA-developed standards, the Automated Secure Alarm Protocol (ASAP) and the Alarm Verification Scoring Standard (AVS-01). Both are accredited by the American National Standards Institute (ANSI).

Of all the benefits that ASAP Service will provide, the one that resonates most with Underwood is the anticipated dramatic decrease in call volume for the center’s telecommunicators. Fewer calls mean telecommunicators will be free to focus on higher-priority incidents that require their unique skills and experience. They’ll also have more time to decompress between calls. “They’ll have time to breathe, which will reduce their stress,” Underwood said.

Further, Underwood predicted that citizens requiring emergency assistance will encounter fewer instances of being placed in queue and will experience shorter hold times when they are. “Our residents no longer will be competing with alarm companies to talk with one of us,” she said. “There’s nothing more frustrating than dialing 911 and getting the ‘all lines are busy, please hold and don’t hang up’ message when your house is burning down.”

As of go-live, the following alarm-monitoring companies are transmitting alarm notifications via ASAP Service to Oklahoma City Police Departments 911 Communications: Quick Response, CPI, Alert 360, Affiliated Monitoring, JCI, United Central Control, Allstate Security, Security Central, Rapid Response Monitoring, Everon/Protection One, Vector Security, Vivint, Guardian Protection, and Becklar.

Learn more about how TMA’s ASAP Service is saving lives every day nationwide at asap911.org.

About The Monitoring Association

The Monitoring Association (TMA), formerly the Central Station Alarm Association (CSAA), is an internationally recognized nonprofit trade association that represents professional monitoring companies, security systems integrators, and providers of products and services to the industry. Incorporated in 1950, TMA represents its members before Congress and regulatory agencies on the local, state and federal levels, and other authorities having jurisdiction (AHJ) over the industry. Learn more online at https://tma.us/about-tma/.

About TMA’s ASAP Service

Launched in 2011 as a public-private partnership, TMA’s Automated Secure Alarm Protocol (ASAP) Service enables direct electronic dispatch of emergency calls for service from alarm companies to emergency communications centers. Increasing the accuracy and efficiency of dispatches, ASAP Service utilizes American National Standards Institute (ANSI)-accredited protocols developed cooperatively by TMA and the Association of Public-Safety Communications Officials (APCO).

Media Contact

Julie Howerter, ASAP Service, 1 815-501-5832, rscarpino@pipitone.com, https://asap911.org/

View original content to download multimedia:https://www.prweb.com/releases/oklahoma-city-turns-to-asap-service-to-speed-emergency-response-302751348.html

SOURCE ASAP Service

Continue Reading

Trending