The global IT industry set to reach $5trn in 2019, according to CompTIA’s analysis, and is expected to grow by about 4% over the course of the year. While the majority of growth is being driven by companies involved in ‘emerging tech’ like artificial intelligence, machine learning, blockchain and so on, the majority of the market (53%) is still comprised of hardware, software and service providers.
Last week, Inc released its annual list of the 5,000 fastest growing companies in the US. Given that the US still represents the largest IT market in the world (accounting for 31% - China has 26% and is gaining fast) check out the five fastest growing IT services companies in the country.
Based in Nutley, New Jersey, SwankTek is a leading technology and business consulting services firm with a focus on Oracle applications. SwankTek customers have access to industry leading expertise regarding cloud, integration projects, ERP, EPM and business intelligence. The company was founded in 2006 and has grown by 81% in the past three years. In 2018, the company reported revenues of $24.2mn.
Global Data Vault
Driven by its ‘culture of quality’ and belief that ‘it’s always our problem’, Global Data Vault has established itself as one of the premier backup and disaster recovery service providers in the country. Based in Dallas, Texas, GLobal Data Vault offers protection for Windows and Linux physical servers and any virtual that runs on VMware or Hyper-V – and mixed / blended environments. In 2018, the company reported revenues of $2.8mn, representing 81% growth over the past three years.
Founded in 2013, ADAPTURE is an Atlanta, Georgia-based cloud and enterprise security consultancy and professional services firm focused on the integration of people, process and technology in the data center space. ADAPTURE grew by 82% over the past three years and reported a 2018 revenue of $38.1mn.
Today, ADPATURE announced that the company will merge with the Centrics Group, operating under the ADAPTURE brand moving forward.
In response to the announcement, ADAPTURE president, Robert Pastor said: “We recognized substantial collaboration between the companies that this new structure will enable at a much higher level. We’re looking forward to making it easier for our clients and channel partners to take advantage of the solutions both divisions offer.”
Growing 83% over the past three years and reporting 2018 revenues of $9.8mn, 2020 Teknology is an IT solutions engineering firm based in Virginia. The company specialises in value added reselling and systems integration to help organizations secure and optimize their IT infrastructure. According to the company, “Our core competencies include architecting scalable and reliable networks, improving productivity with unified communication solutions and leveraging our cybersecurity assessment to improve security posture.”
The fastest-growing IT services firm in the US, CirrusLabs, expanded by 263% over the past three years, by far outpacing its competition. The Alpharetta, Georgia-based company, which brought home revenues of $18.4mn in 2018, specializes in cloud management, internet of things and data & analytics services.
In March 2019, CirrusLabs expanded dramatically with its acquisition of Axxis Solutions, a leader in cloud advisory and technology services specializing in Salesforce, Shopify, and AWS.