In this article, we are going to list the 15 largest IT services companies in the world. Click to skip ahead and jump to the 5 largest IT service companies in the world.
As the world matured gracefully with modernization, one of the key players that save the economy is information technology services. IT services are the services used by businesses to assess, manage, and deliver information, as well as to assist other business functions. These services include consulting, product design, software development, system integration, as well as more "hands-on" tasks such as hardware deployment and support, training, and education, and hosted and outsourced IT services. Today, IT solutions empower private and public companies all over the world.
IT services have a huge umbrella of services and solutions such as cloud computing. Cloud computing is a key segment of the IT services market which refers to essential software or programs you can access anytime and anywhere as long as you have an internet connection. Dropbox (NASDAQ: DBX) and ServiceNow (NYSE: NOW) are just two of the 15 biggest cloud-computing companies in the world. On the other hand, database management is also one of the major segments of the IT service industry. One of the most reliable IT service companies for database management is Oracle Corporation (NYSE: ORCL). Database management includes the organization of essential data to ensure compliance, security, and performance of data-driven applications. Other segments of IT consulting services include software support, network security, and data storage.
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According to an IT Market Model by Statista, the expenditure on the global IT services market is expected to reach $853 billion by 2021, up from $737 billion in 2017. North America is the largest growing market for IT services due to the presence of a robust IT infrastructure. The IT services market is expected to register a compound annual growth rate (CAGR) of approximately 8.87% during the forecasted period (2020-2025). The key reason for this economic development for this sector is the increased demand for apps and social media channels such as Google Hangouts, WhatsApp Video Call, Zoom, and Microsoft Teams. Due to coronavirus, many opportunities have been opened up in the IT industry, such as the growing need for 5th generation (5G) technology. As a result of the pandemic, remote interaction has become a top priority for many organizations. Remote interaction would not only benefit companies from imposing remote work. Telemedicine is one of the emerging industries during the COVID-19 recession. This could help patients to get diagnosed and treated without a doctor's need to be physically present.
There is no doubt the COVID-19 has greatly affected many businesses around the world and the IT service industry is not exempted from it. As a result, global IT leaders reset their plans in the short term to withstand the uncertainty. Accenture is one of the most renowned IT service companies in the world. In the middle of the pandemic, Accenture developed an operating model that harnesses modern and emerging technologies to constantly push the limits of today's systems and business models, including artificial intelligence, distributed ledger technology, and quantum computing.
So what are the largest IT services companies in the world? To give you the most accurate ranking, we gathered key figures of each company such as revenue, market cap, assets, and the number of employees according to Forbes. We listed the IT service companies from the smallest to largest starting at number 15:
15. Infosys Technologies (NYSE: INFY)
Revenue: $12.8 billion
Market Cap: $40.6 billion
Assets: $12.3 billion
Headquarters: Bangalore, India
Infosys is a global digital service and consulting technology leader providing comprehensive IT business solutions for engineering and BPO industries. In 2017, Infosys positioned as a "major player" in the IDC MarketSpacein EMEA Utilities. The company develops its technology services, including application management; cloud, infrastructure, and security; engineering services; enterprise mobility; Internet of Things (IoT), and testing.
14. Cognizant Technology Solutions Corp (NASDAQ: CTSH)
Revenue: $16.8 billion
Market Cap: $43.34 billion
Assets: $16.2 billion
Headquarters: Teaneck, New Jersey
Cognizant Technology Solutions Corp. is offering a full range of information technology, consulting, and outsourcing services for business processes. Cognizant provides IT solutions and IT services to large companies, including software development, maintenance and testing of applications, and the development of digital infrastructure. The top revenue line of Cognizant is financial services, accounting for just over a third of its business. It also creates and supports health care software, which accounts for 28% of its revenue.
13. CAPGEMINI SE (EPA: CAP)
Revenue: $18.8 billion
Market Cap: $15.9 billion
Assets: $20.4 billion
Headquarters: Paris, France
Capgemini is one of the largest IT services companies in the world with more than 270,000 team members in nearly 50 countries and partnerships with a wide range of technology providers. Capgemini is a world leader in consulting, digital transformation, technology, and engineering services. Capgemini incorporates strategy, technology, data science, and creative design to address the most complex business and technology issues.
12. DXC Technology Co (NYSE: DXC)
Revenue: $20 billion
Market Cap: $6.19 billion
Assets: $29.6 billion
Headquarters: Tysons, Virginia
DXC Technology is one of the world's leading independent, end-to-end IT service and solutions company. DXC is a Fortune 500 company, represented in the S&P 500 Index. DXC Technology operates mission-critical infrastructures and solutions with the latest technology innovations to deliver better business outcomes and new levels of performance. The company serves 6,000 private and public-sector customers in 70 countries.
11. NTT Data Corp
Revenue: $20.5 billion
Market Cap: $15.75 billion
Headquarters: Tokyo, Japan
NTT DATA is a global provider of business and IT services with more than 100,000 professionals in more than 50 countries. In 1967, the Nippon Telegraph and Telephone Public Corporation, known as the NTT, decided to set up the DATA Communications Office, known as the NTT DATA. Today, NTT DATA has led the information services industry while developing business primarily in the field of social infrastructure and computer systems in Japan.
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10. TATA Consultancy Services (NES: TCS)
Revenue: $22.1 billion
Market Cap: $100.7 billion
Assets: $16 billion
Headquarters: Mumbai, India
Tata Consultancy Services India's top-leading IT service company. The IT company engages in a variety of technology-related businesses such as application development and maintenance, business intelligence, enterprise solutions, assurance services, engineering, and industrial services, infrastructure services, consulting, asset leveraged Solutions, and business process services. The company was founded in 1968 and over the years, Tata CS Ltd has established operations in the fields of insurance, banking, manufacturing, retail, and communication and media industries.
9. Synnex Corp (NYSE: SNX)
Revenue: $23.8 billion
Market Cap: $4.2 billion
Assets: $11.7 billion
Headquarters: Fremont, California
Synnex is not a typical IT company, but rather a business process outsourcing firm, linking technology vendors to buyers. The company is involved in the provision of distribution, logistics, and integration services for the technology industry. The company works with software, IT systems, components, and equipment suppliers.
8. NEC Corp
Revenue: $28.4 billion
Market Cap: $10.1 billion
Assets: $28 billion
Headquarters: Tokyo, Japan
NEC, a leader in ICT solutions since 1899, has used its long-term IT and network expertise to tailor today's data-driven technologies. NEC Corp is a leading Japanese company that is committed to providing systems, components, services, and integrated solutions for computing and communications applications. The company has been recognized in the Top 100 Global Innovators for eight consecutive years and is included in the Fortune Global 500. NEC works with 300 group companies in more than 50 counties all over the world.
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7. SAP (NYSE: SAP)
Revenue: $31.1 billion
Market Cap: $127.68 billion
Assets: $69.1 billion
Headquarters: Walldorf, Germany
SAP is a remarkably powerful business application developer and IT company offering SaaS, enterprise software, business operations, and on-site management services. Its applications and solutions cover a wide range of business sectors, such as finance, human resources, manufacturing, marketing, and engineering. SAP is well-known for its IT services and solutions globally which include ERP, CRM, and Customer Experience, Digital Supply Chain, Business Technology Platform, Application Development and Integration, and Data Base and Data Management tools.
Revenue: $35.7 billion
Market Cap: $20 billion
Assets: $28.7 billion
Headquarters: Tokyo, Japan
Fujitsu is Japan's largest IT service provider and one of the world's leading software companies. It was established as a production subsidiary of Fuji Electric Limited in 1935. Since then, the company has made its way to the IT and software sectors. Today, Fujitsu offers IT services such as personal and enterprise computing, storage products, system integration, and infrastructure solutions. Also, it has a division that provides IT consulting, implementation, and management services. The company serves clients globally from over a hundred countries. Fujitsu also works together with the biggest tech companies in the world such as Microsoft and Siemens.
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Disclosure: No position. 15 largest IT services companies in the world is originally published at Insider Monkey.