IT services are services used by companies to create, manage, deliver, and assist with other business functions. Services include consulting, system integration, software development, hardware deployment, and education. As a whole, there are several different segments within the broader market for IT services, including outsourcing, managed service providers, security services, data storage, and cloud computing.

The profitability of companies in the market depends on their ability to improve their services and grow their technological expertise. Indeed, both smaller companies and larger companies can compete here. Larger companies offer broader services and a global reach, while smaller companies tend to position themselves within niche markets and tailor their services more specifically to customers' needs. Cloud computing has become one of the fastest-growing segments of IT services. It drives innovation in IT services.