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Wondering about the past, present, and future of the IT industry? Let the numbers do the talking and explore some of this year’s key IT stats from reputable sources like Statista, Deloitte, McKinsey, and Auvik.
We’ll cover general IT stats about market size and transformation drivers as well as some more niche findings regarding topics like cybersecurity, IT personnel and staffing, and even money and finances. Dive into the raw numbers behind some of our key takeaways in the IT space.
Overall, the data tells us that companies are still divided between in-house IT departments and managed service providers. Major trends in the IT industry include the adoption of artificial intelligence (both generative and applied) as well as the extreme prevalence of SaaS technologies. IT jobs remain some of the strongest in the nation and around the globe, with average salary counts surpassing U.S. averages by more than double.
Additionally, cybersecurity continues to be a major focus of developments in the IT space. Priorities for IT software users include automation capabilities, self-service options, and accessible customer service. While women in IT still lag behind men in terms of total numbers, that gap continues to close as does the gender pay gap in IT.
Explore these key IT stats and more in our robust collection of the top 40 need-to-know topics in IT this year…
General IT stats
- The global market for IT services is projected to reach $1.42 trillion by the end of 2024. The compound annual growth rate (CAGR) of the industry is currently at 5.76%, meaning the market should continue growing and reach $1.88 trillion by 2029. Via Statista
- Out of the total market growth of the total 24% growth The development of AI accounts for 12.4% of the growth of the worldwide IT services market, or over 50% of the driving force. *Note: the overall market growth was 15.6%, when taking negative growth into account. See the full breakdown via Statista
Psst, learn more about how AI is transforming the industry with this blog post.
- IT outsourcing is incredibly common among enterprise-size companies. In fact, 92% of G2000 companies (Forbes Magazine’s list of the top 2,000 companies around the world) outsource IT needs. Via TechReport
- Smaller companies outsource their IT needs, too – but not at the same rate as enterprise organizations. 55% of small and midsize businesses use managed IT services. Via TechReport
- Network-related tools are on the rise. In fact, 44% of IT professionals are working with more than 10 network-related tools. In the federal government sector, that number goes up to 20+… if only there were more all-in-one IT tools, like Atera. Via Auvik
- Speaking of managed IT services, the companies using these providers are benefiting greatly. A survey conducted by CompTIA discovered that one-third of the companies using these managed service providers reduced costs by over 24%. Via CompTIA
- There are more than 585,000 tech-related companies in the United States – and the so-called “Big Four” (Google, Apple, Amazon, and Meta) are worth over $4 trillion combined. Via ChannelPro Network
- As of 2019, the technology sector was the second-largest industry in the United States (it fell just behind the healthcare industry). In 2020, the technology sector surpassed healthcare and is now the nation’s #1 industry. Via TechReport
- The top trends in the IT and tech space right now are AI and electrification and renewables. Investors are also interested in the future of mobility. Generative AI has taken a back seat to the versatile “applied AI” endeavors. Via McKinsey
- Nearly 3 in 5 (about 60%) organizations are using one of the top 50 key SaaS (software as a service) applications. Via Auvik
- Across the globe, we saw a mix of internal IT solutions vs. managed service providers. The ratio evened out to about 70% of organizations having internal IT departments while 30% rely on MSPs. Via Auvik
- The democratization of automation is on the rise, with 88% of IT providers offering self-service IT automation to end-users. Via Stonebranch
- There are numerous clients in the IT space that are up for grabs. A whopping 87% of companies are thinking about switching tech vendors in the next year. Via Spiceworks
IT jobs and personnel stats
- As of October 2024, there are 3.022 million employees in the US who work in the IT sector. Via Statista
- The IT industry is constantly growing, adding over 300,000 jobs for tech occupations each year in the United States. Via Trade.gov
- In the United States, the median annual salary for those working in the IT space is $104,420 – more than double the national average of about $48,000. Via BLS
- Speaking of jobs, we also took a look at the top programming languages by mentions in job postings. The language currently topping the list are SQL, Java, Python, Microsoft C#, C++, and HTML. Via Dice
- IT jobs are expected to grow by 11% in the next decade, which is significantly faster than the national average growth rate. Via FinancesOnline
- Women make up about 22.7% of the IT workforce. About 77% of IT employees are male. Via TechReport
- About 10% of IT professionals around the world identify under the LGBTQ+ umbrella. Via TechReport
- The fastest-growing jobs in the IT industry are information security analysts, software developers, and computer and information research scientists. Via Forbes
- Nearly one-quarter of US jobholders work in a STEM-related field (STEM stands for science, technology, engineering, and mathematics). The share of workers in these fields is expected to continue rising as tech jobs are experiencing faster-than-average growth across both the US and the world. Via Forbes
- Let’s talk about degrees and advanced education. Men continue to make up a disproportionate share of computer and information science majors at the higher education level. In 2022, women received just 22.6% of computer and information science bachelor’s degrees that were awarded. Via Forbes
- The biggest U.S. locations for IT workforce growth included California, Texas, New York, Florida, and Virginia. Via CompTIA
- Staffing has become one of the biggest concerns in the IT space. More than 60% of companies are finding it challenging to secure reliable and skilled IT talent. Via Spiceworks
Money and financial IT stats
- Of the $1.4 trillion global IT budget, 15% of that amount is allocated to managed services. Another 22% is spent on hosted and/or cloud-based IT services. Via FinancesOnline
- The biggest drivers for IT budget increases in small businesses? Upgrading IT infrastructure accounts for 57% of budget upticks, followed by security concerns (38%), and employee growth (32%). Via FinancesOnline
- What about hardware? The biggest area of spending on IT hardware for small businesses is typically laptops, which account for 24% of the IT hardware budget. Via FinancesOnline
- Applied AI technologies and techniques are one of the biggest areas of investment in 2024’s IT scene. The sector received $86 billion in equity investment in the past year. Via McKinsey
- The electrification and renewables area has also seen a lot of investment, with $183 billion in equity last year. Job postings in this sector have also risen 1%. Via McKinsey
- As IT departments and corporations reflect on IT budgeting in 2024, there was a 24% increase in those groups who report planning to invest in network automation. Via Auvik
- Experts predict that AI-related investments in the IT industry could reach $200 billion globally by 2025, led by spending in the United States. Via Deloitte
- Worldwide IT spending is expected to grow 7.5% in 2024. Via Gartner
- IT spending is on the rise for the majority of businesses. Over 65% of companies are planning to increase their IT budgets in 2024. Only 4% of companies are planning to decrease spending on tech and IT. Via Spiceworks
Cybersecurity IT stats
- As of February 2024, the average cost per data breach globally was 4.88 million U.S. dollars. That’s an expensive thing to not be prepared for! Via Statista
- The three sectors that spend the most on cybersecurity are banking, manufacturing, and the federal government – these three industries account for 30% of cybersecurity spending as of 2020. Via FinancesOnline
- Although 60% of small businesses believe they won’t be targeted by a cyberattack, 34% of businesses in 2020 reported malware attacks and 28% reported ransomware attacks. Via TechReport
- 74% of organizations believe they experience a moderate to high risk of employees using their personal devices for work – but one-third of those companies still do not track who brings their own devices. Via Ivanti
- Patch management remains a crucial part of keeping your organization safe from cyberattacks. In fact, 32% of attacks start with an unpatched vulnerability. Via Sophos
- It’s not just machines and bots conducting these cyberattacks! According to Microsoft, human-operated ransomware attacks are up more than 200% year over year. Via Microsoft
Work with the RMM solution that the numbers support
If you’re looking for a more efficient way to manage the devices in your network, or need to remotely monitor and manage (RMM) your network, look no further than Atera. We’re an industry-leading IT management platform with a 4.6 / 5 rating across more than 1,000 verified customer reviews.
And another important number to consider – we offer transparent, affordable pricing plans for internal IT departments and MSPs alike. And guess what – we even offer a 30-day free trial, no credit card required, so you can see if Atera makes a good fit for you and your organization.
Or do you still have questions? Get in touch with our sales team today, and learn more about if Atera could be the right choice for you and your team.
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