Find stats on top websites
Industry Landscape
The technology consulting and IT staffing industry is experiencing robust growth driven by rapid digital transformation, increasing demand for specialized tech talent, and the rise of remote work. Companies are increasingly relying on external expertise for software development, cloud adoption, cybersecurity, and data analytics, leading to a dynamic and competitive market.
Total Assets Under Management (AUM)
IT Services Market Size in United States
~1.3 trillion USD (2024)
(8.8% CAGR)
- Cloud services and digital transformation projects are key drivers.
- Demand for specialized skills like AI, data science, and cybersecurity is increasing.
- Remote work models continue to fuel outsourcing and consulting needs.
Total Addressable Market
1.3 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI
Generative AI will revolutionize software development by automating code generation, testing, and debugging, and enhancing content creation for digital transformation projects.
Hyperautomation
Hyperautomation, leveraging AI, RPA, and machine learning, will streamline business processes, improving efficiency in IT operations and service delivery.
Edge Computing
Edge computing will enable faster data processing and lower latency, crucial for real-time applications in industries adopting IoT and advanced analytics.
Impactful Policy Frameworks
California Privacy Rights Act (CPRA) - 2023
The CPRA expands on the CCPA, granting consumers more rights over their personal data, including the right to correct inaccurate personal information and limit the use and disclosure of sensitive personal information.
This policy increases compliance burdens for companies handling personal data, particularly regarding data collection, storage, and sharing practices in recruitment and HR services.
New York SHIELD Act - 2020 (effective 2020)
The SHIELD Act expands the definition of 'private information' and 'data breach,' and mandates reasonable data security measures for businesses handling New York residents' private information.
This legislation requires tech consulting firms to implement robust data security protocols and breach notification procedures, affecting their operational costs and client data handling.
Secure Software Development Framework (SSDF) - 2022 by NIST
The NIST SSDF provides a set of practices for software producers to integrate security throughout the software development lifecycle, aiming to reduce vulnerabilities in software.
This framework necessitates a re-evaluation of software development practices for companies like DivVerse, ensuring security is 'built-in' rather than 'bolted on,' which can impact development timelines and training needs.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
