The Baker Tilly 2024 Information Technology Report offers a panoramic view of the IT and digital services sector. It encompasses a thorough analysis of 315,703 companies globally, providing a detailed exploration of diverse segments including cybersecurity, SEO service marketing, and Robotic Process Automation (RPA).
The report highlights the unprecedented scale of digital transformation across industries, underscoring IT's critical role in enabling this shift. It delves into emerging trends such as the increasing reliance on cloud-based solutions and the rapid integration of AI and machine learning in business operations. The importance of cybersecurity is underscored, noting its elevation from a peripheral IT concern to a central business priority.
The report also sheds light on the evolving landscape of SEO marketing, emphasizing its significance in digital branding and online visibility. The overview captures the dynamism of the sector, marked by continuous innovation and a competitive environment fueled by significant investments and strategic partnerships.
The report provides an in-depth analysis of the market dynamics within the IT and digital services sector. It highlights a significant surge in funding, particularly in cutting-edge segments like cybersecurity, where investments are driven by the escalating need for robust security solutions. The report explores the strategic M&A activities shaping the industry, revealing how these consolidations are creating new market leaders and altering competitive landscapes
It presents a nuanced clustering analysis, illustrating how different business models within the IT sector are attracting investments and driving the direction of market growth. Additionally, the report offers a comprehensive value chain analysis, encompassing aspects from infrastructure management to IT service delivery, and provides a detailed SWOT analysis. This analysis reveals the internal and external factors influencing the sector, including emerging threats like cybersecurity risks and opportunities presented by evolving technologies like cloud computing and AI.
Highlighting the growing prominence of low-code platforms, revolutionizing how business approach application development by enabling faster, more cost-effective solutions, etc. the report delves into the forefront of technological advancements within the IT sector. It also focuses on the rapid evolution of cybersecurity technologies. It details how AI and machine learning are increasingly employed to bolster security measures, alongside the adoption of sophisticated strategies like zero-trust architecture.
Additionally, cloud-native security solutions are gaining traction, offering scalable and flexible security frameworks. These trends not only reflect current industry shifts but also signal the direction of future technological developments in IT.
The 2024 Information Technology Report presents a comprehensive market valuation, illustrating the IT sector's robust growth. It includes an analysis of the global IT market size and its projected growth trajectory, underpinned by a detailed compound annual growth rate (CAGR) analysis.
The global information technology (IT) market size increased from USD 8179.48 billion
in 2022 to USD 8852.41 billion in 2023 at a
compound annual growth rate (CAGR) of 8.2%.
Looking ahead, the report forecasts significant trends poised to influence the industry. It discusses the expanding influence of cloud computing, the rise of social commerce, and the transformative impact of AI on business operations and customer experience. These insights into future prospects underscore the sector's potential for innovation and growth, highlighting areas of opportunity for businesses and investors in the ever-evolving digital landscape.
The last part of the 2024 information technology report is an extensive overview of the mergers and acquisitions (M&A) and funding landscapes in the IT sector. It features in-depth coverage of key acquisitions, such as UiPath's strategic acquisition of Blue Prism , which underscores the growing consolidation in the Robotic Process Automation (RPA) space.
The report also examines global funding and investment trends, shedding light on the patterns and preferences of investors in the IT industry. It highlights the sector-wise distribution of investments, revealing which areas are attracting the most capital. This section offers valuable insights for stakeholders looking to understand the financial dynamics and investment priorities within the 2024 information technology sector.
Interested in some other reports then the 2024 Information Technology Report? Have a look at our market research section.
Other news on information technologies 2024 in M&A News.
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