Connect with us

Technology

IT Professional Services Market to Grow by USD 657.9 Billion (2025-2029), Boosted by Digital Transformation, Market Evolution Powered by AI – Technavio

Published

on

NEW YORK, Feb. 6, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global IT professional services market size is estimated to grow by USD 657.9 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  10.6%  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 Services SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., EdgeVerve Systems Ltd., Fujitsu Ltd., HCL Technologies 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

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 10.6%

Market growth 2025-2029

USD 657.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.3

Regional analysis

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

Performing market contribution

North America at 37%

Key countries

US, Germany, Canada, China, UK, India, France, Japan, Italy, and Brazil

Key companies profiled

Accenture PLC, Amazon.com Inc., Atos SE, Capgemini Services SAS, CGI Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Dell Technologies Inc., Deloitte Touche Tohmatsu Ltd., EdgeVerve Systems Ltd., Fujitsu Ltd., HCL Technologies 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. Project 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 providing accurate insights to ecommerce businesses and large enterprises. Resource allocation and talent acquisition are key areas of focus, with advanced technologies like AI, IoT, 5G, AR, and blockchain driving growth opportunities. Collaborations between IT services and business strategists are crucial for effective business plans. ITO services support business operations and business analytics, while project-oriented services address scalability, automatic updates, and complex systems. Security breaches and cyberattacks are major concerns, necessitating data security measures like NIST Cybersecurity Framework and cloud-based services. Resource management, revenue management, and network security are essential for organizations in various verticals, including healthcare, manufacturing, and telecommunication. SaaS and PaaS models offer feasible solutions for businesses, with data storing capacity and client demands driving variables for firms. 

The IT professional services market is witnessing a notable trend towards hybrid and multi-cloud environments. This shift is primarily driven by the need for flexibility, scalability, and efficient resource allocation. Hybrid and multi-cloud solutions enable organizations to utilize a combination of private, public, and on-premises infrastructure. By adopting this approach, businesses can select the most suitable cloud platform for each workload or application, ensuring optimal performance and control over their data. The flexibility offered by hybrid and multi-cloud environments is a significant advantage, allowing organizations to reap the benefits of multiple cloud platforms while maintaining control over their IT environment. 

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

 Market Challenges

•         IT professional services firms face several challenges in today’s business landscape. With increasing customer demand for automation and operational efficiency, firms must adapt to new technologies and business strategies. Remote working and expense management are becoming essential, requiring advanced tools for resource allocation and project management. Automated billing and consultation services are in high demand, along with audit and accounting capabilities. Financial risk protection and analytic capabilities are crucial for firms, especially in ecommerce businesses. Talent acquisition and resource management are key areas of focus, with advanced tools and training necessary for IT specialists. Cybersecurity is a major concern, with the need for data security and compliance with frameworks like NIST Cybersecurity Framework and edge cloud platforms. Project-oriented services, revenue management, and large enterprise collaboration are growth opportunities for IT professional services. Business processes, business intelligence, and business strategists are essential for economic expansion and digital transformation. Advanced technologies like AI, IoT, 5G, AR, and blockchain offer new possibilities for development and scalability. Resource wastage and complex systems require automatic updates and network security. Variables like cyber breaches, cyberattacks, and data security concerns necessitate  security measures. System integration, training, consulting, managed services, deployment, and telecommunication are all important areas of expertise for IT professional services. Healthcare, manufacturing, SaaS, PaaS, and other verticals require specialized knowledge and expertise. In conclusion, IT professional services firms must navigate a complex landscape of technologies, business processes, and customer demands. Feasibility studies, collaboration, and a focus on advanced technologies and cybersecurity are key to success. Firms must adapt to new business models and technologies to remain competitive and meet the evolving needs of their clients.

•         The IT professional services market faces a significant challenge due to a shortage of skilled workers. This issue impacts organizations across industries as new technologies emerge and existing ones evolve, increasing the demand for professionals with up-to-date skills. Educational institutions struggle to keep their curricula current with industry trends, resulting in a skills gap between graduates and employers. The IT industry’s dynamic nature necessitates continuous learning and upskilling to remain relevant. The shortage is particularly pronounced in areas such as cybersecurity, data analytics, artificial intelligence, cloud computing, and software development.

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

Segment Overview 

This it professional services market report extensively covers market segmentation by  

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

1.1 Project-oriented services-  In the IT professional services market, project-oriented services refer to the delivery of IT projects on a defined scope, timeline, and set of deliverables. These services cater to unique business needs and may include maintenance, modernization, installation, and decommissioning. Organizations engage IT service providers for project-oriented services when they require specialized expertise, resources, and technical skills for specific IT initiatives. Project-oriented services offer benefits such as effective scope management, revenue management, improved quoting, efficient resource management, and successful project delivery. These advantages are driving the demand for project-oriented services in the IT professional services market, contributing to its 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

IT professional services have seen in demand due to the increasing importance of technology in business operations. Automation is a key trend driving this market, as organizations seek to improve operational efficiency and reduce expenses. Professional service firms are responding by offering a range of services, including ITO (Information Technology Outsourcing) and BPO (Business Process Outsourcing). Remote working and digital transformation have become essential business strategies in the wake of the pandemic. IT services are at the heart of these initiatives, providing tools and resources for professional services firms to manage projects, revenue, and resources effectively. Business analytics and technological developments are also critical, helping organizations make data-driven decisions and stay competitive. Client demand for customized solutions and talent recruiting are other significant challenges for the professional services sector. Effective project management, expense management, and revenue management are essential for delivering high-quality services and meeting customer expectations. Large enterprises are increasingly turning to IT professional services to optimize their business processes and drive growth.

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, and financial risk protection services to businesses of all sizes. With the shift to remote working, firms are focusing on expense management, resource allocation, project management, automated billing, and revenue management. Ecommerce businesses, large enterprises, and organizations in various verticals are seeking IT professional services to support their digital transformation journeys. Advanced technologies like AI, IoT, 5G, AR, and blockchain are driving growth opportunities in the sector. Firms are collaborating to offer project-oriented services, system integration, training and education, managed services, and deployment. Business strategists are utilizing IT services to optimize business processes, improve business analytics, and develop business plans. Talent acquisition and resource management are critical areas of focus, with firms utilizing advanced tools for talent recruiting and resource sharing. Cybersecurity concerns, including cyber breaches and data security, are also top priorities, with cloud-based services and the NIST Cybersecurity Framework playing key roles in mitigating risks. IT infrastructure scalability, automatic updates, and data storing capacity are essential considerations for firms looking to provide IT outsourcing (ITO) services. Project-oriented services, telecommunication, healthcare, manufacturing, SaaS, PaaS, and LTE are some of the verticals where IT professional services are making a significant impact. Firms must assess feasibility, security breaches, and cyberattacks to ensure they are providing accurate insights and effective solutions to their clients.

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-grow-by-usd-657-9-billion-2025-2029-boosted-by-digital-transformation-market-evolution-powered-by-ai—-technavio-302369999.html

SOURCE Technavio

Continue Reading

Technology

NAVER D2SF Invests in On-Device AI Startup TraceWeave

Published

on

By

TraceWeave develops its own post-Transformer AI architecture that enables AI agents to run on memory-constrained devicesCompletes paid pilot in mobility; pursues commercialization across robots, drones, smart glasses, and moreNAVER D2SF continues to invest in on-device AI and next-generation device technologies

SEOUL, South Korea, Oct. 20, 2026 /PRNewswire/ — NAVER D2SF has made a new investment in TraceWeave, an on-device AI startup led by co-founder and CEO Jaeyoung Park. TraceWeave is the team behind Phase-TITAN, a post-Transformer architecture that understands long contexts and carries out multi-step tasks while keeping memory usage constant. NAVER D2SF recognized the company’s core technology for enabling AI agents on resource-constrained devices.

As AI expands to robots, vehicles, smart glasses, and drones, its applications are advancing beyond simple chatbots toward complex reasoning and decision-making. In Transformer-based models, the key-value cache (KV-Cache) grows with context length, requiring more memory. On-device constraints in memory, battery life, and heat have made it difficult to implement AI agents that understand long contexts and perform complex tasks.

TraceWeave’s Phase-TITAN is a new AI architecture designed to resolve this memory bottleneck by replacing the conventional Transformer architecture altogether. TraceWeave develops its own AI models rather than relying on existing open-source models. Memory usage remains constant as context grows. According to TraceWeave, at a 1M-token context without quantization, a comparable Transformer’s KV-Cache holds tens of gigabytes or more, while its 1B Phase-TITAN model holds 0.04 GB. This enables agents to call tools, interpret results, and decide on their next actions entirely on the device, without cloud calls. TraceWeave’s internal benchmarks on RULER and BFCL indicate that Phase-TITAN maintains performance on par with Transformer models of the same size and larger.

TraceWeave has demonstrated a multi-step agent running on a smartphone using only its CPU, without cloud calls. In mobility, it completed a paid pilot with the autonomous driving affiliate of a global automotive group, identifying driving-data frames that improve the partner’s autonomous driving model without human annotation. It is also validating in-vehicle agent performance with a global automotive electronics software company and exploring opportunities in robots, drones, smart glasses, and wearables. TraceWeave was a Top 20 finalist in NVIDIA’s 2026 Inception Grand Challenge.

TraceWeave was co-founded in October 2025 by researchers with backgrounds at ETH Zurich, Google, and KAIST. The team combines engineering expertise grounded in computational neuroscience and physics with business development capabilities, designing its own architecture and validating it in device environments that reflect real-world customer needs. In this seed round led by Mirae Asset Capital, TraceWeave raised approximately KRW 3 billion at a pre-money valuation of approximately KRW 30 billion. Based at NAVER D2SF @Gangnam, the company plans to use the funding to expand its research and engineering team for next-generation architecture development and grow its business.

“Taking the KV cache out was never the hard part. Staying capable without it was,” said Jaeyoung Park, co-founder and CEO of TraceWeave. “The best part is no part. Phase-TITAN already delivers Transformer-class capability without the Transformer’s memory tax, and the next one goes well beyond its class, with the memory still fixed.”

“On-device AI is a core technology for implementing complex, advanced AI across diverse device environments beyond PCs, and it also offers advantages in reducing cloud call costs and protecting privacy,” said Sanghwan Yang, Head of NAVER D2SF. “TraceWeave is a team that is innovating AI architecture to overcome the limitations of existing AI models and bring AI to on-device environments.”

View original content:https://www.prnewswire.com/news-releases/naver-d2sf-invests-in-on-device-ai-startup-traceweave-302913752.html

SOURCE NAVER D2SF

Continue Reading

Technology

Gear Up for Year-End Wellness: iHerb Spotlights 4 Everyday Health Essentials and Kicks Off 11.11 Early Access Sale with Up to 40% Off Sitewide

Published

on

By

HONG KONG, Oct. 21, 2026 /PRNewswire/ — As October gets underway, many individuals are proactively preparing their daily health and self-care routines ahead of the busy year-end season. Global health and wellness e-commerce platform iHerb has curated a premier lineup of four top-selling daily nutritional supplements from its flagship house brand, California Gold Nutrition, and consumer-favorite brand, Doctor’s Best. Encompassing marine collagen, Omega-3 fatty acids, CoQ10, and chelated magnesium, this selection addresses distinct nutritional priorities, providing consumers with comprehensive, high-quality choices for daily maintenance and holistic vitality.

The iHerb Singles’ Day Early Access campaign officially launches today and runs through October 28. During the promotional period, shoppers can apply promo code “HD11BUY” at checkout to receive up to 40% off sitewide. Additionally, new customers worldwide can use promo code “WELCOME7” to enjoy 30% off their first purchase—offering consumers the ideal opportunity to proactively map out their year-end wellness and nutrition regimens.

Daily Wellness from Within: Collagen and Omega-3 as Nutritional Building Blocks

Founded in the United States and powered by 30 years of global health curation, iHerb offers an extensive catalogue spanning vitamins, dietary supplements, beauty, sports nutrition, and everyday lifestyle essentials. The platform empowers consumers to explore premier wellness goods from around the world all in one convenient place.

Among the featured highlights is California Gold Nutrition’s Hydrolyzed Marine Collagen Peptides + Hyaluronic Acid and Vitamin C. This synergistic formula pairs bioavailable hydrolyzed marine collagen peptides with hyaluronic acid and antioxidant vitamin C. Formulated as an unflavored, easily dissolvable powder, it blends effortlessly into morning coffee, smoothies, or water according to usage guidelines, offering a hassle-free addition to daily beauty and mobility regimens.

For essential fatty acid support, California Gold Nutrition’s Omega-3 Premium Fish Oil provides concentrated Omega-3 fatty acids, specifically EPA and DHA. Delivered in fish gelatin softgels, it offers an accessible, high-purity option for consumers seeking to incorporate vital fatty acids into their daily dietary routine to maintain overall cardiovascular, cognitive, and cellular wellness.

Targeted Cellular Vitality and Essential Minerals: Advanced Science from Doctor’s Best

Complementing collagen and fish oil, trusted wellness brand Doctor’s Best delivers science-backed formulations for more specialized nutritional support. The brand’s High Absorption CoQ10 utilizes naturally fermented Coenzyme Q10 paired with patented BioPerine® black pepper extract to enhance nutrient absorption and bioavailability. It provides an exceptional daily option for adults focused on supporting cardiovascular function, cellular energy generation, and antioxidant defenses.

Another standout favorite is Doctor’s Best High Absorption Magnesium Lysinate Glycinate, which features Albion® TRAACS® chelated magnesium in convenient tablet form. This fully chelated delivery ensures high bioavailability and superior digestive tolerance, allowing consumers to easily select the right daily supplement tailored to their dietary habits, physical activity, and relaxation needs.

Special Promotion: 11.11 Early Access

Sitewide Early Bird Offer: Use promo code HD11BUY to take up to 40% off sitewide.

New Customer Welcome: First-time shoppers globally can apply promo code WELCOME7 for 30% off their order.Promotion Window: Active immediately through October 28, 2026.Details & WhatsApp: Subject to terms and product eligibility on the official iHerb website. Subscribe to the official iHerb Hong Kong WhatsApp channel for real-time campaign updates.

About iHerb (https://hk.iherb.com/)

iHerb is a world-leading e-commerce destination dedicated to health, wellness, and self-care. Founded in California in 1996, iHerb now serves millions of customers across more than 180 countries. With a selection of over 40,000 authentic, high-quality products across vitamins, supplements, sports nutrition, personal care, and grocery items, iHerb delivers value and convenience directly to doorsteps worldwide, supported by state-of-the-art GMP-registered, climate-controlled distribution centers.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/gear-up-for-year-end-wellness-iherb-spotlights-4-everyday-health-essentials-and-kicks-off-11-11-early-access-sale-with-up-to-40-off-sitewide-302914770.html

SOURCE iHerb

Continue Reading

Technology

EPG Showcases Full-Stack AIDC Capabilities and Global Delivery Network at DCWA 2026 in Singapore

Published

on

By

SINGAPORE, Oct. 21, 2026 /PRNewswire/ — EPG, a global provider for prefabricated modular data center infrastructure, showcased its latest AI data center solutions at Data Centre World Asia (DCWA) 2026, held in Singapore on September 29–30. Demonstrating its commitment to Asia-Pacific and the markets beyond, EPG presented its AI Core prefabricated modular data center solution and Edge POD prefabricated edge data center solution, alongside the global launch of AeroLev 1850, an air-cooled, magnetic-bearing chiller platform jointly introduced with MagPro. Together, these offerings demonstrate EPG’s end-to-end capabilities across modular infrastructure and high-efficiency cooling for AI data centers (AIDCs).

At the opening address for the Critical Infrastructure Theatre, EPG Chief Operating Officer Johnny Zhang highlighted the growing demands AI is placing on data center infrastructure, from higher power density and faster deployment to more efficient cooling. As AI continues to evolve, infrastructure must keep pace to support the next generation of AI computing.

Building on these themes, Johnny Zhang moderated a panel discussion on the future of data centers, resilience and digital infrastructure, bringing together industry experts from data center design, cloud and AI infrastructure, and cooling technology to explore emerging requirements for energy efficiency, high-density cooling and scalability. EPG Chief Technology Officer Enso Li also presented AI Core at the Energy Security & Efficiency Theatre, demonstrating how standardized modules and factory prefabrication can accelerate data center deployment.

Alongside these industry discussions, EPG continued to strengthen its global partnerships. The company signed cooperation agreements with international industry partners across AI data center planning, construction and delivery. These collaborations will support the development of next-generation data center infrastructure, broaden EPG’s ecosystem across the Asia-Pacific and expand its presence in global markets.

Complementing these industry engagements, EPG showcased its AI Core and Edge POD solutions across its exhibition space, welcoming visitors to explore its modular infrastructure offerings. AI Core takes a prefabricated, modular approach to AI infrastructure, integrating standardized power, cooling and other critical infrastructure modules to simplify deployment and enable flexible expansion as compute requirements grow. Built on this modular approach, EPG’s E Series offers configurable solutions tailored to different project requirements. One of its offerings, Edge POD, is an all-in-one solution for distributed computing environments where power availability and deployment speed are critical. Designed for 1–10 MW applications, Edge POD supports rapid deployment, low-latency computing and distributed redundancy.

EPG’s joint venture, MagPro, also introduced its new magnetic levitation chiller platform, AeroLev 1850. The 1.85 MW-class, air-cooled, magnetic-bearing chiller platform is designed for next-generation AI data centers in water-scarce, high-ambient environments, with chilled-water outlet temperatures of up to 45°C. Its cooling-tower-free architecture combines oil-free magnetic-levitation technology with intelligent controls to deliver efficient, reliable cooling while reducing water consumption.

The launch of AeroLev 1850 marks a strategic milestone in EPG’s global cooling technology roadmap. Established in May 2026, MagPro brings together EPG’s data center engineering and global delivery expertise with CIGU’s magnetic-levitation technology and R&D capabilities. The partnership expands EPG’s portfolio into advanced cooling to address the demands of high-density AI computing while reducing reliance on water-intensive cooling systems.

“AI computing is reshaping the infrastructure requirements of data centers,” said Alick Wan, Founder and Chairman of EPG. “Our focus extends beyond individual technological breakthroughs. By combining modular and standardized solutions with global delivery capabilities, we aim to help customers deploy and scale computing infrastructure efficiently across markets. We will continue working with global partners to build more efficient and resilient infrastructure for the next generation of digital growth.”

Looking ahead, EPG will continue to evolve its solutions and strengthen its capabilities to meet the changing demands of the data center industry.

Learn more: https://www.epg-module.com/

CONTACT: communications@epg-module.com

About EPG

EPG is a prefabricated modular data center infrastructure provider, powered by R&D centers in Singapore, Malaysia, and Shanghai, as well as six advanced manufacturing hubs in Malaysia and China. With over 20 years of engineering expertise, it has a workforce of more than 1,600 employees, including nearly 300 researchers and experienced engineers in its R&D and technical team. Through continuous technological innovation and a scalable delivery system, EPG delivers  integrated and efficient data center solutions for hyperscale, cloud, and enterprise deployments across APAC, EMEA, and other global markets.

About MagPro (Nanjing CIPU Technology Co., Ltd.)

MagPro is a joint venture between CIGU Technology Corp. Ltd. and EPG Data Technology (Shanghai) Co., Ltd., specializing in the research, development, and production of reliable, energy-efficient cooling and air-conditioning systems for AI data centers, cloud, and hyperscales. MagPro operates a more than 6,000-square-meter production base and two air-cooled laboratories, supporting testing of air-cooled units up to 2,000 kW.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/epg-showcases-full-stack-aidc-capabilities-and-global-delivery-network-at-dcwa-2026-in-singapore-302913737.html

SOURCE EPG Global Technology (Shanghai) Co., Ltd.

Continue Reading

Trending