Global IT Business-to-Business (B2B) revenues, coming from data centers, IT services and devices, public cloud, cybersecurity, semiconductors, artificial intelligence, IoT, and robotics have soared over the past five years as these technologies become essential for companies across industries to operate, compete and innovate efficiently. Back in 2019, the entire market grossed roughly $3.7 trillion. Since then, this figure has jumped by more than 60% and will continue growing in the following years.
According to data presented by AltIndex.com, the global IT B2B market is expected to grow by 10% year-over-year and hit a $6.7 trillion value in 2025.
Five Countries Generate 56% of Global IT B2B Revenues
The highly competitive IT B2B space includes various technology products, services, and solutions integral to the operations of businesses across industries. This huge, dynamic sector is a home market to many tech giants, from technology vendors Microsoft, IBM, Oracle, and Cisco, cloud providers Amazon Web Services, Microsoft Azure, and Google Cloud, to AI giant Nvidia or cybersecurity firms Fortinet, CrowdStrike and Symantec.
Although these tech heavyweights have users worldwide, most of the global IT B2B revenue comes from only five countries, and that won't change in 2025. According to Statista Market Insights survey, the global IT B2B market grossed $5.5 trillion last year, and 56% of that value, or $3.07 trillion, came from the United States, China, Japan, Germany, and the United Kingdom.
Statista expects global IT B2B revenues to increase by roughly $600 billion year-over-year and hit $6.1 trillion in 2024, while the top five countries will see their combined revenue jump to approximately $3.4 trillion. Similar growth will continue in 2025, with global revenue rising to $6.7 trillion and those from the top five markets reaching almost $3.7 trillion.
The United States has by far the largest IT B2B market across all technologies among the top five countries, with revenues expected to hit $ 1.9 trillion in 2025. Although far behind the United States in terms of revenue, with $963 billion forecasted in 2025, China has the highest growth rates across all technologies in the IT B2B space. Japan, the United Kingdom, and Germany follow, with $339 billion, $259 billion, and $246 billion in expected revenue in 2025, respectively.
IoT and AI are the Fastest-Growing Technologies, Growing 2.5x Faster than the Entire Market
Although all sectors of the IT B2B industry have seen revenues surge over the past years, IoT and AI are significantly outgrowing the other markets. Several factors and trends have contributed to this growth, including rising demand for automation, advancements in computing power, and increasing data availability. Integrating AI with other technologies, like IoT, further drives innovation.
According to Statista, out of eleven technology markets included in the IT B2B space, AI and IoT revenues are forecasted to grow the fastest, delivering a 26% CAGR between 2019 and 2025, or 2.5 times more than the entire market.
The Public cloud market stands close with a 25% growth in this period, far more than any other of the eight remaining sectors. Far below, the cybersecurity market follows with a six-year CAGR of 9%, just one percent more than semiconductors and IT services. On the other hand, saturated markets like communication services and devices have grown only slightly, delivering 2% and 1% CAGR in this period, respectively.
www.altindex.com
