Data Services

Global Data Services Market, worth over USD 21.0 billion in 2024, is rapidly scaling as enterprises embrace cloud computing, big data analytics, AI-driven platforms, 5G technology, and IoT ecosystems. Within the IT and Telecommunications Market, Asia-Pacific has emerged as the fastest-growing region, led by India and China, where IT and telecom-enabled service exports rose by 12–13% YoY in 2024, outpacing the global average of 9% growth in ICT services trade. North America and Europe remain dominant exporters of high-value managed IT services, telecom infrastructure, and enterprise cloud solutions, while Asia-Pacific drives imports of data hosting, hardware integration, and telecom equipment, with tariff variations and cross-border data governance shaping delivery models. The Data Services demand-supply equation is shifting as enterprises prioritize low-latency, sovereign-compliant data services, creating pressure on supply chains to localize and expand edge data centres.

Investments are accelerating, with hyperscalers and telecom operators drawing record flows into Data-as-a-Service (DaaS), analytics platforms, cybersecurity in IT and telecom, and edge computing solutions. Global Data Services market leaders such as AWS, Microsoft Azure, Google Cloud, Cisco, Huawei, and IBM dominate the competitive landscape, collectively capturing over 65% of the enterprise IT services segment, while specialized providers in Singapore, India, and the Middle East target niche verticals like BFSI, healthcare, and manufacturing. Pricing models are evolving from flat-rate contracts to subscription, consumption-based, and outcome-linked structures, offering flexibility for SMEs and scalability for large enterprises. Consumers and clients increasingly demand real-time insights, secure telecom architectures, hybrid cloud integration, and compliance with regional data tariffs, driving innovation across multi-cloud ecosystems.

Looking forward, the future of IT and Telecommunications data services lies in AI-powered automation, zero-trust security frameworks, IoT connectivity, quantum-ready infrastructure, and green data centres. The dominant segment remains cloud-hosted en terprise solutions, with over 55% Data Services Market share in 2024, underscoring the preference for scalable, modular IT architectures. Trends in digital trade liberalization are expected to ease telecom tariff barriers and stimulate cross-border ICT flows, while customer priorities such as cost-efficiency, seamless integration, and sustainability continue to guide investment decisions. Positioned at the heart of the global IT and Telecommunications industry, the Data Services Market is not just a growth story—it is a strategic pillar of the digital economy, redefining enterprise competitiveness and consumer experience worldwide.

Data Services Dominating Region

Asia-Pacific

GDP Contribution in India

Regional Powerhouse in Data Services

Asia-Pacific

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Brokerage

The Global Brokerage Market in 2024, is witnessing steady growth as investors and institutions increasingly leverage financial intermediaries for trading, investment advisory, and asset management services. North America dominated the brokerage market, accounting for a significant share due to high adoption of digital trading platforms, robo-advisory services, and sophisticated brokerage tools. Europe contributes nearly 28% of the global market, driven by regulatory compliance, wealth management services, and high investor engagement across equity, derivatives, and fixed-income segments. Meanwhile, Asia-Pacific is emerging as the fastest-growing region, fueled by rising retail investor participation, fintech integration, and government initiatives supporting financial literacy and digital investment platforms in India, China, and Southeast Asia.Regulatory frameworks, trade policies, and cross-border financial agreements continue to shape the Brokerage Market. Import-export of financial services, licensing, and capital flow regulations influence market accessibility and expansion opportunities for global brokerage firms. The brokerage industry is witnessing rapid digital transformation, including adoption of AI-driven analytics, algorithmic trading, and cloud-based brokerage platforms to enhance decision-making and operational efficiency. Key trends include the rise of commission-free trading models, ESG-focused investment products, and increasing preference for multi-asset brokerage services that provide flexibility, real-time insights, and personalized client engagement.The competitive landscape of the Brokerage Market features major global players such as Charles Schwab, Fidelity Investments, E*TRADE, Interactive Brokers, and TD Ameritrade, who focus on advanced digital platforms, global market coverage, and customer-centric services. Regional and boutique brokerage firms target niche segments, offering specialized advisory, localized investment solutions, and low-cost trading models

Industry definition

The Data Services sub-industry within the IT and Telecommunication industry delivers a diverse range of data management products and IT solutions designed to handle storage, processing, security, and analytics. Core offerings include cloud storage services, hybrid data platforms, and data analytics solutions that enable enterprises to optimize performance and gain actionable business insights. Products such as ETL tools, data integration software, and business intelligence platforms ensure real-time decision-making, while data security services like encryption, identity and access management (IAM), and data loss prevention (DLP) safeguard privacy and regulatory compliance. In addition, cloud computing services, backup and disaster recovery solutions, and data monetization platforms are increasingly critical for organizations seeking scalability, agility, and resilience. With the growing demand for AI-powered analytics, edge computing, and green data infrastructure, businesses are customizing Data Services to align with industry-specific requirements, ensuring tailored solutions for telecom providers, financial services, healthcare, and manufacturing. This combination of innovation, security, and customized data services is driving growth across the global IT and telecommunication market.

IT and Telecommunication