Information Services Global Market To Reach Value Of About $ 180.3 Billion In 2023
The global information services market is expected to decline from $148.2 billion in 2019 to $144.7 billion in 2020 at a compound annual growth rate (CAGR) of -2.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $180.3 billion in 2023.
The information services market consists of the sales of information services by entities (organizations, sole traders or partnerships) that provide news reports, articles, pictures, public historical documents, photographs, maps, audio material, audiovisual material, and other archival material of historical interest. These entities include news syndicates, libraries and archives.
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The global information services market is further segmented based on type and geography.
By Type: into news syndicates, libraries and archives, all other information services, by end-user into B2B, B2C.
By Geography: The global information services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific information services market accounts for the largest share in the global information services market.
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Trends In The Information Services Market
Many cloud service providers are offering options for storing long term data on cloud. Even though many vendors want solutions to move their data from in-house servers to remote servers, customers wanted complete solutions to eliminate issues arising due to archiving.
Information Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides information services market overviews, analyzes and forecasts market size and growth for the global information services market, information services market share, information services market players, information services market segments and geographies, information services market’s leading competitors’ revenues, profiles and market shares. The information services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.