Information technology (IT) services are services used by organizations to create, manage, and deliver information, next to assisting with other business functions. Services include consulting, software development, systems integration, as well as hardware deployment and education. As a whole, the broader market for IT services is made up of several segments, including outsourcing, managed services, security services, data management, and cloud computing.

Generally, the profitability of companies in the industry depends on their ability to innovate their services and grow their technical expertise. Indeed, both smaller and larger companies can compete in this industry: larger companies offer broader services and have a global reach, while smaller companies tend to position themselves in niche markets and tailor their offerings more specifically to customers’ needs. The most substantially growing segment of IT services is cloud computing which drives IT-related innovation.