Market Size of IT Consulting
The global IT consulting market is expected to grow from $97.48 billion in 2022 to $107.35 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The market size is expected to reach $165.58 billion in 2027 at a CAGR of 11.4%. The growing adoption of cloud computing is expected to propel the growth of the IT consulting market.
- The ‘Big Four’ consulting firms are responsible for generating nearly 60% of the entire revenue of the consulting field.
- Increased focus on digital transformation and adoption of emerging technologies such as AI and automation are shaping the future of IT consulting services.
- IT consulting helps businesses solve operations and business problems through information technology.
Digital Transformation
The ongoing digital transformation across industries is driving the need for IT consulting services. Organizations are seeking assistance to adopt and integrate emerging technologies such as cloud computing, artificial intelligence, data analytics, and the Internet of Things (IoT) to enhance their operations, customer experiences, and competitive edge.
Largest IT Consulting Company
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Accenture is the largest IT consulting company in the world with over 730,000 employees across 50 countries.
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Tata Consultancy Services offers information technology, digital, and business consulting services to its clients. It is headquartered in Mumbai, India, and has been ranked on Forbes’ World’s Most Innovative Companies list.
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Innowise Group is a leading software consulting company offering services like software development, application management, and cloud computing. It is headquartered in Warsaw, Poland, with offices in the United States and across Europe.