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

Yiren Digital Accelerates Operating Efficiency Through AI Agent Deployment

Published

on

By

Broader AI adoption improves productivity across asset recovery and enterprise operations

BEIJING, July 23, 2026 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets, today announced measurable operating efficiency improvements as it continues to deploy AI agents across core enterprise workflows. Broader AI adoption is reducing manual intervention, increasing workforce productivity and creating greater operating leverage by automating high-volume processes across multiple business functions.

These deployments are a key component of Yiren Digital’s “All-in-AI” strategy and its broader transition from AI-assisted productivity toward agent-driven execution. By embedding AI agents into core workflows, the Company is creating reusable operating capabilities that can be deployed across its businesses, supporting greater efficiency and reducing the cost of extending automation into new functions.

“Our objective is not simply to automate individual tasks, but to fundamentally improve how work is performed across the enterprise,” said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. “As AI agents take on more of our high-volume, demanding workflows, the productivity gains are becoming a structural part of how we run the business, not a one-time efficiency project. We will continue to deepen AI integration across our existing businesses while extending reusable capabilities into additional verticals.”

The AI deployments are supported by the Company’s proprietary enterprise AI architecture, including MagiCube 2.0, its upgraded multi-agent platform. The platform provides common infrastructure for agents deployed across marketing, customer service, capital operations, risk management, compliance and research and development, with more than 10 reusable foundational capabilities, supporting enterprise-wide execution.

Measurable Operating Impact

Lower manual intervention: The human handling rate in asset-recovery operations decreased from 45.0% to 24.9%, representing a 20.1-percentage-point decline, an approximately 44.6% relative reduction in manual intervention.

Higher staff productivity: The number of service tickets handled per asset-recovery staff member within the applicable Month 1 workflow increased from 358 to 525, an improvement of approximately 47%.

Expanded agent adoption: AI agents accounted for 81% of service tickets within eligible Day 1 asset-recovery workflows in 2025, up from 50% in 2024. The Company also deployed AI agents selectively in later-stage workflows, accounting for 20% of eligible service tickets at Day 4, 14% at Day 16 and 20% at Month 2. Each percentage is calculated separately for the relevant stage and should not be interpreted as a sequential adoption trend.

Enterprise-wide reuse: MagiCube 2.0 supports agent deployment across six enterprise functions, allowing the Company to apply common AI capabilities to a broader range of regulated and high-volume workflows.

Enterprise-scale AI execution: The Fengchao AI voice agent processes approximately 1,500 hours of real-time speech-to-text activity each day. The LingShu intelligent marketing platform executes more than 1,700 tasks daily and generates individualized communication content in an average of 0.6 seconds.

Building Enterprise Operating Leverage Through AI

As AI deployment expands across the enterprise, Yiren Digital is increasingly shifting repetitive, high-volume tasks from human-assisted processes toward agent-driven execution. By combining AI agents with centralized orchestration and governance, the Company is improving operating consistency, strengthening workforce productivity and creating reusable capabilities that increase operating leverage as AI is deployed across additional business functions.

Yiren Digital plans to continue expanding agent-driven workflows across its credit and insurance operations, as part of its ongoing All-in-AI strategy, while strengthening the shared architecture and governance that support enterprise-wide AI deployment. These capabilities are designed to scale across multiple use cases and provide a foundation for the Company’s broader expansion into AI application-layer opportunities, including AI entertainment and AI-assisted language learning.

About Yiren Digital

Yiren Digital Ltd. is a leading company specializing in financial technology and artificial intelligence innovation across multiple industries in China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “hope,” “going forward,” “intend,” “ought to,” “plan,” “project,” “potential,” “seek,” “may,” “might,” “can,” “could,” “will,” “would,” “shall,” “should,” “is likely to” and the negative form of these words and other similar expressions. This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident,” and similar expressions. Forward-looking statements are based on management’s current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of the Company, and which could cause actual results to differ materially from those expressed or implied in such statements. Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/yiren-digital-accelerates-operating-efficiency-through-ai-agent-deployment-302833201.html

SOURCE Yiren Digital Ltd.

Continue Reading

Technology

Infinium Edge Launches EdgeSites™, a New Infrastructure Model for Deploying AI Compute at Existing Commercial and Industrial Facilities

Published

on

By

EdgeSites delivers operational AI infrastructure in existing powered buildings — factory-built data center modules, waterless cooling, and ready in months without new construction or grid interconnection required.

SACRAMENTO, Calif., July 23, 2026 /PRNewswire/ — Infinium Edge™ today announced Infinium EdgeSites™, a development program that utilizes existing commercial and industrial facilities to deploy operational AI compute infrastructure. Built around Infinium Edge’s proprietary Edge Thermal Vectoring™ immersion cooling platform, EdgeSites enables high-density GPU deployments in existing buildings that were never designed as data centers — without new construction, without cooling water infrastructure, and without the multi-year grid interconnection timelines that constrain conventional large-scale data center development.

More than 20 million commercial and industrial electricity customers in the US are served by electrical infrastructure sized to peak demand – which industry research shows are utilized at only 40-60% on average. That unused headroom, capacity already contracted, energized, and sitting behind the meter, can support high-density AI compute without adding new load to the grid or waiting on a new interconnection.

At the center of the program is the Vector ONE™ — Edge’s factory-built, self-contained immersion cooling system designed to house 1 MW of AI compute capacity. Vector ONE units are engineered for deployment in standard commercial and industrial buildings, either indoors or outdoors, arriving pre-integrated, fully commissioned and require no municipal water connection. Installations are modular and scalable: additional units can be commissioned as site power and demand allow, without rebuilding the underlying infrastructure and occupy up to 70% less floor space than air-cooled equivalents.

Built for the Shift to Inference

As inference moves to displace training as the dominant AI workload, the growth opportunity is shifting towards small, distributed data centers that can be deployed quickly and sited where demand originates. Conventional data center developments are under compounding pressure from long utility interconnection queues, sometimes lasting years, pressure around water use, and general community and regulatory opposition enacting restrictions. Community opposition and regulatory friction delayed or blocked an estimated $156 billion in planned U.S. data center capacity in 2025 alone.

EdgeSites is purpose-built for the structural shift to inference and addresses key issues stalling conventional data center developments today. Each Vector ONE unit delivers 1 MW of inference-ready capacity inside an existing building, in a market that already has established electrical infrastructure, in a timeline measured in months rather than years. Multiple units can be used in tandem to deploy up to 10 MW of capacity at a single site.  The program converts the distributed inventory of underutilized industrial or commercial electrical capacity in the United States into a nationally scaled inference network. Vector ONE’s dry-cooler loop consumes no municipal water, making EdgeSites viable in markets where evaporative cooling has been restricted or banned.

“The data center industry has been answering an infrastructure shortage with a construction playbook — build new facilities, secure new grid connections, wait years for capacity to come online,” said Robert Schuetzle, CEO of Infinium. “That model cannot keep pace with AI deployment timelines. Infinium EdgeSites operate around different premises: the power already exists, the buildings already exist, and the technology now exists to put them to work. We are making operational what the industry has been treating as stranded.”

Deploying EdgeSites

As demand for AI compute continues to outpace available infrastructure and focuses on distributed inference needs, Infinium Edge is expanding the EdgeSites network with qualified host locations and compute partners.

Commercial and industrial property owners of industrial sites, distribution centers, warehouses, or large commercial properties with available electrical capacity benefit from receiving lease income from infrastructure they already own or control. Infinium Edge manages all aspects of site development and operations for installing and deploying the Vector ONE system. No capital investment or operational responsibility is required from the host.

AI companies, enterprises, and compute operators requiring infrastructure on compressed deployment timelines can access high-density, edge-proximate GPU capacity through a straightforward capacity agreement, priced by the kilowatt-month, with backup power included in the capacity fee. There is no construction to manage, no permitting process to navigate, and no cooling infrastructure to operate or maintain.

Infinium Edge manages the full program from development and installation to operation and monitoring— simplifying development and data center management for AI companies and enterprises.

Reach out to learn more and partner in EdgeSites deployments.

Inquiries: www.infinium.ai/edgesites

About Infinium Edge™
Infinium Edge™ is the advanced AI data center infrastructure platform from Infinium, delivering high-density, sustainable compute through proprietary single-phase immersion cooling technology. Infinium Edge is the only North American producer of Fischer-Tropsch immersion fluids and offers a full-stack platform — including Edge Thermal Vectoring™ platform, Vector ONE™ modular AI Factory units, ETV100 immersion fluids, and integrated monitoring systems — engineered for the thermal and operational demands of AI and high-performance computing at scale. For more information, visit www.infinium.ai.

View original content to download multimedia:https://www.prnewswire.com/news-releases/infinium-edge-launches-edgesites-a-new-infrastructure-model-for-deploying-ai-compute-at-existing-commercial-and-industrial-facilities-302832792.html

SOURCE Infinium

Continue Reading

Technology

ChipMOS SCHEDULES SECOND QUARTER 2026 FINANCIAL RESULTS SEMIANNUAL CONFERENCE CALL

Published

on

By

HSINCHU, July 23, 2026 /PRNewswire-FirstCall/ — ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services (“OSAT”), today announced that it will report second quarter 2026 results and host a semiannual conference call after the close of trading on the Taiwan Stock Exchange on Tuesday, August 11, 2026.

Investors and analysts are encouraged to participate in the semiannual conference call using the dial-in phone number noted below. A webcast and replay will be available on the Company’s website.

Date: Tuesday, August 11, 2026
Time: 3:00PM Taiwan (3:00AM New York)
Dial-In: +886-2-3396 1191
Password: 1637011 #

Semiannual Conference Call Webcast and Replay: https://www.chipmos.com/chinese/ir/info2.aspx
Replay: Starts Approximately 2 hours after the live call ends

Language: Mandarin

Note: A transcript will be provided on the Company’s website in English following the semiannual conference call to help ensure transparency, and to facilitate a better understanding of the Company’s financial results and operating environment.

About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. (“ChipMOS” or the “Company”) (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) (www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.

Forward-Looking Statements:
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding current macroeconomic conditions, including the impacts of high inflation, foreign exchange rates and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed and our ability to mitigate with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, based on a number of important factors and risks, which are more specifically identified in the Company’s most recent U.S. Securities and Exchange Commission (the “SEC”) filings. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the SEC and in its other filings with the SEC.

Contacts:

In Taiwan

Jesse Huang

ChipMOS TECHNOLOGIES INC.

+886-6-5052388 ext. 7715

IR@chipmos.com

In the U.S.

David Pasquale

Global IR Partners

+1-914-337-8801

dpasquale@globalirpartners.com

 

View original content:https://www.prnewswire.com/news-releases/chipmos-schedules-second-quarter-2026-financial-results-semiannual-conference-call-302831885.html

SOURCE ChipMOS TECHNOLOGIES INC.

Continue Reading

Trending