In 2019, spending on IT services is expected to amount to 1,016 billion U.S. dollars worldwide

Quote Info

The IT services market encompasses the range of services that assist individuals and enterprises in implementing, managing, and operating the wide variety of processes, systems, software, equipment, and peripherals that are used in the modern IT environment. Globally, the broader information technology market reached 3.65 trillion U.S. dollars in 2018, with IT services spending representing more than a quarter of the total market. In terms of IT market growth, services are advancing steadily, second only to enterprise software spending. Year on year, IT services spending is expected to increase at a rate of around 5.5 percent.

More Tech Services Stats

Smaller SAAS companies reported more frequent use of third-party providers as their primary application delivery method, while the largest companies were more likely to use self-managed servers

The metrics that matter for each sales funnel, vary from one company to the next depending on the steps involved in the funnel

Moving from $1.5 million with an eye towards $10 million in ARR is a tough a task and will take an excellent VP of sales to get you there

Gross dollar churn among companies with an internet go-to-market strategy saw a meaningful increase, up from 8% in 2015

In 2018, the U.S. imported aerospace products worth about 53.98 billion U.S. dollars.

Software and online services are in a period of dizzying growth

Internet Sales strategies have a significantly lower CAC of just $0.42

The median SaaS business loses about 10% of its revenue to churn each year and that works out to about 0.83% revenue churn a month

SaaS companies in the $7.5MM-$15MM range are among the fastest growers

In 2018, the market size of information technology outsourcing amounted to 62 billion U.S. dollars.

More Growth Strategy Stats

Net-revenue churn improves with larger Average Contract Value (ACV), likely due to more structural churn among SMB customers and higher switching costs associated with larger contracts

Revenue Churn Rate = (RCR) (MRR at beginning of month – MRR at end of month) – MRR in upgrades during month / MRR at beginning of month

Account Churn Rate (ACR) = customers at beginning of month – customers at the end of month / customers at beginning of month

Internet Sales strategies have a significantly lower CAC of just $0.42

Analysed by contract value, field sales are primarily evident for companies with median deals over $25K. Inside sales strategies are most popular for companies with $1K-$25K median deal sizes

SaaS companies in the $7.5MM-$15MM range are among the fastest growers

orecasts suggest that global blockchain technology revenues will experience massive growth in the coming years, with the market expected to climb to over 23.3 billion U.S. dollars in size by 2023.

The median SaaS business generates 16% of its new Annual Contract Value (ACV) from upselling to existing customers

Best-in-class SaaS companies achieve 5-7% annual revenue churn – equivalent to a loss of $1 out of every $200 each month

Unlike many other industries, if a software company grows at only 20%, it has a 92% chance of ceasing to exist within a few years