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Industry Landscape
The IT Services and Digital Transformation industry is currently experiencing robust growth, driven by the increasing need for businesses to innovate and optimize operations. Key trends include the widespread adoption of cloud solutions, the rapid integration of AI and Generative AI, and a strong demand for specialized talent in data engineering and cybersecurity. Companies are prioritizing digital initiatives to accelerate time to market and gain competitive advantage.
Total Assets Under Management (AUM)
IT Services Market Size in United States
~Approx. 500 billion USD (2023)
(7-8% CAGR)
- Driven by digital transformation initiatives.
- Strong demand for cloud and AI services.
- Increased spending on cybersecurity.
Total Addressable Market
500 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI
Generative AI, particularly large language models, is revolutionizing software development by automating code generation, testing, and documentation, significantly increasing development speed and efficiency.
Edge Computing
Edge computing brings computation and data storage closer to data sources, enabling real-time processing and reduced latency for applications like IoT and autonomous systems, crucial for advanced digital transformation.
Cybersecurity Mesh Architecture
A cybersecurity mesh architecture provides a composable, distributed approach to security, allowing for more adaptive and robust protection across diverse IT environments, essential amidst escalating cyber threats.
Impactful Policy Frameworks
American Data Privacy and Protection Act (ADPPA, proposed 2022)
The ADPPA is a proposed comprehensive federal privacy law in the US aiming to establish national standards for data privacy, including data minimization, consumer rights (access, correction, deletion), and robust enforcement mechanisms.
This policy will mandate stricter data handling practices, increasing compliance costs and requiring re-evaluation of data collection and processing strategies for IT service providers and their clients.
Executive Order on Improving the Nation's Cybersecurity (EO 14028, 2021)
This Executive Order focuses on modernizing cybersecurity defenses in the US federal government, emphasizing zero-trust architecture, enhanced information sharing, supply chain security, and a software bill of materials (SBOM).
It will drive demand for advanced cybersecurity services, secure software development practices, and compliance audits for companies working with federal agencies or those seeking to enhance their security posture across the board.
Artificial Intelligence Risk Management Framework (AI RMF 1.0, NIST 2023)
Developed by the National Institute of Standards and Technology (NIST), the AI RMF provides voluntary guidance for managing risks associated with artificial intelligence, focusing on trustworthy AI development and deployment through governance, mapping, measuring, and managing risks.
While voluntary, this framework will influence best practices for AI development, pushing companies like Fission Labs to adopt more responsible and ethical AI development processes, potentially becoming a de facto standard for clients concerned about AI governance.
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