IT services refer to the application of technical expertise to enable businesses in the creation, management, and optimisation of IT infrastructures within business processes. The IT services market can be divided into different sectors including: business process services, application services, data and analytics services and networking services.  

Cybersecurity is the body of technologies, processes, and practices designed to protect networks, computers, programmes, and electronic data from attack, damage, or unauthorised access. The pandemic has accelerated the digitalisation of business operations which means tech companies store more and more consumer data. Failure to protect this data can cause severe reputational damage and incur serious fines if a company has failed to comply with the EU’s General Data Protection Regulation (GDPR).  

Additionally, inadequate IT infrastructures can easily fall victim to successful cyberattacks. Ransomware can force companies to halt production by crippling operational technology (OT) and IT infrastructures and disrupting supply chains. Therefore, it is more important than ever that companies invest in robust cybersecurity networks. According to GlobalData forecasts, during 2020-2025, the global cybersecurity industry will grow at a compound annual growth rate (CAGR) of 9.5%. 

However, not all companies are equal when it comes to their capabilities and investments in the key themes that matter most to their industry. Understanding how companies are positioned and ranked in the most important themes can be a key leading indicator of their future earnings potential and relative competitive position.  

According to GlobalData’s thematic research report Cybersecurity, leading adopters of include: Accenture, Infosys, IBM, NTT DATA and Tata Services.  

Insights from top ranked companies  

Accenture 

In 2020 and 2021, Accenture made several acquisitions to add to its cybersecurity portfolio, including French cybersecurity services company Openminded and cyber defence company Sentor. The company has also revealed plans to create 3,000 new technology roles in the UK over the next three years, many of which will be related to information security. The expansion is driven by increased demand for services in platforms, cloud engineering, cybersecurity, data, and intelligent operations. 

IBM 

IBM has admitted that it is in the market for cybersecurity-related acquisitions. In December 2021, IBM launched a data security solution called Guardium Insights, which uses predictive analytics and outlier detection to quickly discover suspicious activity and score risks based on potential impact. Additionally, the company published the most cybersecurity patents between January 2019 and January 2022, with more than 6,000 patents. The company is also researching with US Defense Advanced Research Projects Agency (DARPA), on how to improve its chip-based security. Protecting chips from cyberattacks is becoming a necessity as chips end up in mission-critical servers and in leading-edge, safety-critical applications. As systems vendors and original equipment manufacturers (OEMs) increasingly design their own chips, rather than buying commercially developed devices, they are creating their own ecosystems and are, therefore, making security requirements much more of a home-grown concern. 

To further understand the key themes and technologies disrupting the technology industry, access GlobalData’s latest thematic research report on Cybersecurity.    

Data Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

Be better informed