Introduction
So, what are the most profitable IT services businesses? The short answer is that there is no single answer. It depends on your industry and what you sell. What I can say with confidence, however, is that security, big data and cloud computing will continue to be among the most profitable IT service businesses in 2020.
Data and network security.
Data and network security is one of the fastest growing markets in IT. Cloud services have made it easier for businesses to access their data, while big data analytics has allowed companies like Amazon and Google to gain insights into their customers' needs. 5G networking will be a major driver for this market as well, with more than 50 percent of organizations planning on deploying it within the next five years.
In addition to these factors, there's also been an increase in demand for Cisco Meraki Cape Girardeau IT support services—whether through phone calls (for smaller businesses), remote assistance (for larger enterprises) or chatbots (for small-sized businesses).
Cloud computing.
Cloud computing is a growing field and expected to grow by 20% in 2020. It’s a great choice for small businesses, but also works well for large enterprises.
Cloud computing is an ideal fit for medium-sized businesses that require more IT services than they can afford on their own or don't have the resources necessary to hire an IT team full time.
Big data.
Big data is a term that refers to the collection, storage, and analysis of large amounts of data in order to gain insight into business processes. Big data can be used for a variety of purposes:
To improve customer service. In this case, it's important for an organization to have access to information about its customers so that it can provide them with personalized services based on their previous behavior (e.g., what kind of product did you buy last time? How long did your call take?).
To make better decisions about products and services offered by the company itself or other companies within its industry sector (like suppliers). This might include things like determining whether one pricing model seems more attractive than another—or even just learning how many people actually go through with paying for something once it's been purchased online (which would allow companies like Amazon or Apple to offer discounts).
IT support.
The most profitable IT service businesses are those that provide professional services to other companies. They help the client with managing their IT systems, which means they're in charge of everything from hardware and software maintenance to troubleshooting and problem solving.
IT support is a highly lucrative business because it's considered a service industry: there are no employees to pay, so even small operations can be profitable—and there are plenty of them!
5G networking.
The next generation of mobile network technology is 5G. With the ability to provide faster data speeds and better coverage, 5G will be a key component of IoT (Internet of Things).
You may have heard about how drones are being used for deliveries or automated home security systems that can detect burglars. These types of devices are just two examples of what could be possible if you’re willing to invest in an efficient network infrastructure capable of supporting these innovations.
Security, big data and cloud computing continue to top the list of most profitable IT services businesses as we enter 2020.
The three most profitable IT services businesses also remain the same: cloud computing, big data and network security.
Cloud technology is a leader in profitability because it can be used to process data quickly, while providing access to any number of users across an organization. This is especially important for organizations that need to scale their operations rapidly. For example, Amazon Web Services (AWS) provides cloud infrastructure for enterprises at a low cost of ownership and offers secure access through its AWS Security Token Service (STS).
Big data analysis involves storing large amounts of information in order to make sense out of it later on—and there are many ways you can do this using Big Data tools like Hadoop or Spark clusters on top of public clouds such as Amazon Aurora or Google Cloud Platform (GCP).
Conclusion
We hope this article has helped you to understand the profitability of different IT services, and which one is most likely to be profitable in 2020. If you’re looking for a great opportunity, then we recommend considering an IT service business as part of your long-term plan!