Materials by Market Segment
- IT outsourcing (global market)
- Data Center (Global Market) Commercial Data Centers
- Infrastructure as a Service, IaaS (Global Market)
- Storage Services (Global)
- PaaS (Global Market)
- SaaS (Global Market)
- Information Security Services (Global Market)
- Content Delivery Networks, CDN Content Delivery Network
2024: Global IT consulting costs rise to $75.6 billion in a year
The volume of the global IT consulting services market in 2023 reached $75.6 billion. This is about 7% more compared to 2022, when expenses in this area were estimated at $70.8 billion. The growing importance of data in decision-making processes across industries is a key driver of the market in question. This is stated in the Market Research Future review, published in mid-July 2024. Read more here
2023: Market growth to $1.22 trillion
At the end of 2023, the volume of the global IT services market reached approximately $1.22 trillion. This is 4.6% more than in the previous year, when costs were estimated at $1.17 trillion. In nominal dollar terms, based on the current exchange rate, the market grew by 4.1%. Such data are given in the IDC study, the results of which were released on April 30, 2024.
Analysts take into account the costs of technology services and various business services, such as business consulting and outsourcing of major business processes. It is noted that the industry faced a number of difficulties due to the formed macroeconomic situation, high inflation rate and crisis in many regions around the world. However, demand for cloud and digital transformation services remained strong, accelerating growth in the second half of 2023 from the slowdown seen in the first half.
A significant part of the recorded growth was provided by support services and managed services. The growing demand for cloud systems continues to be an important driver of the managed services market as companies recognize the need to leverage scalable infrastructure while reducing costs and increasing flexibility. In addition, there are positive trends in the field of IT outsourcing and outsourcing of the main business processes. On the other hand, there was a slight decline in the market for design-oriented services (professional services) in 2023.
Persistent delays in decision-making and tighter spending controls, particularly in small projects, have led to some market weakening, but even at this challenging time there are some positives related to demand for migration and modernization services. Providers are focusing on business transformation services to digitalize cloud-based operations, says Eileen Smith, vice president of IDC. |
In general, as noted in the IDC study, more stable performance in the second half of 2023 creates the basis for moderate market growth. Analysts believe that in 2024, world revenues from IT and business services will grow to $1.28 trillion, or 4.7% compared to the previous year (in constant currency). As organizations around the world push for digital transformation, demand for innovative service solutions continues to increase. The industry's short- and medium-term outlook improved amid better-than-expected performance from service providers. The five-year CAGR (compound percentage CAGR) is projected at 5.1%.
Geographically, IDC raised its outlook for Asia Pacific and the US market, while indicators for Europe, the Middle East and Africa (EMEA) adjusted downwards. The design-oriented services segment is expected to outperform the managed services and support services sectors, posting a CAGR of 6.1%.
Organizations recognize the value of technology investments even in uncertain environments and continue to reach out to service providers to improve operational efficiency, streamline processes, and improve customer experience. At the same time, service providers will focus on personalized offers in the short term, "said Stacey Soohoo, director of research at IDC.[1] |
2020
Decline in the IT and business services market by 1.16%, to $1 trillion - IDC
In 2020, the volume of the global market for technology services and business services (business consulting and outsourcing of main business processes) fell by 1.16% compared to 2019, but in absolute terms the figure remained above $1 trillion. Such data are provided in the IDC study .
According to experts, global spending on IT and business services in 2020 did not decrease as much as initially expected. This was due to several reasons, including:
- improving the economic outlook;
- growing business confidence;
- the emergence of a new normality in which companies begin to practice longer-term investments in technology and business services.
Market results in 2020, particularly in the third and fourth quarters, were above expectations, the report noted.
In Europe, the Middle East and Africa (EMEA), as well as the Asia-Pacific region, large government projects in the field of digital technologies and business confidence that the authorities will be able to cope with the economic problems and difficulties of the COVID-19 coronavirus pandemic .
In addition, most manufacturers are confident that the crisis has pushed organizations and consumers to the digital world, which in the long term will have more than a positive impact. The scale of this migration will be higher, and the timing of its implementation is less than previously expected, the researchers say.
According to analysts' expectations, spending on IT and business services in the Americas will increase by 2.5% in 2021, in the United States, in particular, by 2.4%. Analysts pay attention to the growth of the American business consulting market due to the fact that the country's economy began to recover faster than expected. In addition, the United States has seen active adoption of cloud technologies, which has had a beneficial effect on the managed services segment.
In Europe, the volume of this market, as calculated in IDC, in 2020 grew by more than 3%. Moreover, in Central and Eastern Europe, the dynamics was higher, although in absolute terms the costs of IT and business services in this region are significantly lower than in Western Europe.
In the Asia-Pacific region, the overall growth of the IT and business services market remained higher in 2020 than in other parts of the world. In this regard, the short and medium-term prospects in these countries are expected to be more optimistic than previously mentioned.
IDC is confident that the problems caused by the coronavirus pandemic create tremendous business opportunities for ICT vendors. They, in particular, are associated with the development of new digital platforms, contactless payments and Big Data technologies, which allow improving government operations.
Other opportunities relate to online health services as the virus stimulates the acceleration of digital transformation of health systems. In addition, new opportunities are being created for the introduction of robots, distance learning and e-commerce, as well as the development of smart cities, according to IDC.
Although 2020 has been a difficult year for service providers both in terms of supply and demand, the overall service market has remained robust, with major participants reporting an increase in orders and deliveries, says IDC analyst Xiao-Fei Zhang. - Looking into the future, we can say that the recovery will be uneven in developed and emerging markets. The threat of inflation still exists, but a strong recovery is still expected in 2021 and 2022.[2] |
Identified leaders among digital product companies
Forrester on July 29, 2020 presented a "rating of the most efficient digital product companies." As part of the comprehensive assessment, all participants were evaluated according to 29 criteria, 12 providers were included in the top rating: BCG, Bresslergroup, Cognizant, EPAM, frog, Harman, Huge, Slalom, ThoughtWorks, Virtusa, WillowTree and Wipro.
As part of the study, special attention is paid to the complexity of support by providers for the created digital product. Thus, in addition to the quality of the actual developed solutions, such parameters as the product development process, approbation, delivery time to the market, support for the finished product, assessment of customer satisfaction, formation of models of commercialization and product development, and many others are evaluated. One of the conditions for inclusion in the rating was the mandatory launch of at least one new digital product in 2019.
All evaluation criteria were grouped into three high-level groups: supply quality, strategy and market share.
Forrester defines digital product development as a collection of service capabilities needed to develop, design and market, and scale a new digital product, which is then offered by the customer to its customers. For the purposes of this study, only those that can themselves be purchased by the final user are considered as a "digital product." Thus, applications can be considered a digital product only if they need to be paid by the consumer or purchased based on their content, which cannot be implemented in another form or through another channel, but not in cases where one or another application expands the pre-existing commercial capabilities of the client company. (For example, an airline app is not a digital product, and an online cinema app is).
2019: IT & Business Services Market Up 5% - IDC
According to IDC analysts, the global market for IT services and business services (business consulting and outsourcing of major business processes) increased by 5% in 2019. Excluding currency fluctuations, growth was 2.4%.
The free sample for the study, which was published on the IDC website, does not indicate the amount of expenses for IT and business services. But, given that earlier experts reported an indicator of a little more than $1 trillion at the end of 2018, in 2019 it turns out a market volume of about $1.05 trillion.
According to experts, the IT services and business services market has been increasing growth rates for two years in a row: in 2017 they were measured at 4%, in 2018 - 4.3%. The dynamics are increasing despite a slowdown in global GDP growth to just over 3% in 2019.
This situation largely in 2019 reflected a healthy environment with corporate IT budgets in companies that were cautious but still building optimistic business forecasts, analysts said.
The service market in the countries of the Americas in 2019 showed a 5.2 percent decline, to $485.6 billion. At the same time, the US government and business in the first quarter of 2020 began to postpone new projects in order to postpone discretionary decisions due to market uncertainty due to the COVID-19 coronavirus pandemic. Project-oriented segments of the market under consideration, such as consulting, user application development, system integration, etc., have more experienced a drop in revenues.
Spending on technology and business services in Latin America increased by 7.2% in 2019. In 2020, the situation in this region began to deteriorate due to quarantine in many countries, depreciation of currencies and weak demand China for local products.
In 2019, the service market in EMEA countries (Europe, the Middle East, Africa) increased by 4.4%, in the Asia-Pacific region - by 5.5%. In China, IT and business services costs increased by 7.6%.
The main driver of growth in the Western European market was orders for application development, maintenance, etc. Digital transformation stimulates the development of new applications, as well as updating old ones, experts say.
In Central and Eastern Europe, spending on IT and business services in 2019 showed growth for the second year in a row. However, analysts warn that due to the coronavirus COVID-19 in 2020, this regional market will sag largely due to Russia. According to the researchers' forecasts, the costs of technological and business services on the Russian market in 2020 will be reduced by 20%, and one of the reasons for this decline will be cheaper oil. Russia accounts for almost a third of sales of IT and business services in Central and Eastern Europe.
The COVID-19 pandemic has come as a shock to the service market worldwide, says Lisa Nagamine, research manager for the IDC Worldwide Semiannual Services Tracker. - But it will lead to various problems, as well as to opportunities for different regions, industries, services and for the service providers themselves. |
Another IDC analyst, Xiao-Fei Zhang, believes that the spread of a new type of coronavirus around the world will have a strong long-term impact on the global supply chain.
When everything settles, service providers can detect changes in the customer base, as well as in their priorities. They will need to rebuild their digital capabilities in accordance with the new norms, "the expert said[3] |
2018: Spending on IT services and business services exceeds $1 trillion - IDC
In 2018, global spending on IT services and business services (business consulting and outsourcing of major business processes) exceeded $1 trillion for the first time. Compared to 2017, they grew by 4.3%, which is more than half a percent more than the dynamics of global GDP growth, according to IDC analysts .
According to their calculations, the volume of the segment of design-oriented services (consulting, system integration, application development, etc.) at the end of 2018 reached $380 billion, rising by 5.8% compared to the previous year.
This rise was due to business consulting and user application development services, the annual costs of which increased by 8.3% (to $123 billion) and 7.5% (to $46 billion), respectively.
The main driver of the growth of the design-oriented services market is the United States. As traditional American companies and government agencies continue to pursue digital transformation, strategic consulting remains critical in larger projects. Digital transformation also drives the development of new applications and the renewal of old ones. The accelerated growth in spending on software development services corresponds to the recovery of the entire software market, the study says.
World spending on managed services in 2018 turned out to be $473 billion, which is 3.6% more than a year earlier. This is roughly in line with the growth rate of global GDP.
Sales of services related to applications (management of cloud and local programs) increased by 5.6% in 2018 and amounted to $80 billion. The dynamics turned out to be higher than in the segment of business process outsourcing and infrastructure management.
Application development and maintenance outsourcing has become a means for customers to access new technologies such as cloud computing, machine learning, analytics, as well as a means of updating outdated software by third-party suppliers. IDC believes that application-related managed services will continue to outperform other outsourcing segments.
Demand for IT outsourcing continues to decline due to lower or zero growth in spending in developed markets. This regression in 2018 was somewhat offset by moderate growth in the horizontal business process outsourcing market.
The largest market for IT services and business services was the United States, where revenue in 2018 reached $459 billion, an increase of 4.6% compared to 2017. The country is experiencing steady growth in both corporate and government spending on information technology, despite political uncertainty and a slight increase in state costs in general. The financing of new IT projects aimed at developing new opportunities and tools compensates for the continuing negative pressure on consumer services.
Western Europe remains the second largest service market. Its volume in 2018 reached $266 billion and grew by almost 3% - twice as fast as real GDP in the region. The Western European market showed growth largely due to services related to the development and support of applications.[4]
The growth of the service market in the Asia-Pacific region (excluding Japan) slightly decreased - to 6.2% (to $110 billion), which partially reflects the economic concern about the impending trade war between the United States and China and the slowdown in economic growth in key developed markets such as Australia, New Zealand and South Korea. In Japan, spending on IT services and business services increased slightly in 2018.
2017
The market for IT services and business services approached $1 trillion
In 2017, revenue in the global IT and business services market (business consulting and outsourcing of the main business processes) came close to $1 trillion. Such data are provided in a study by the analytical company IDC, published on May 15, 2018.
Relative to 2016, the market volume in money increased by about 4%. The increase was slightly higher than the growth rate of world GDP, which indicates a strengthening of business confidence. The positive attitude in the business environment is supported by an improvement in the prospects for the global economy, a common understanding of the need for large-scale digital transformation, as well as the fact that at least in certain segments new digital services are beginning to compensate for the overflow of the traditional services market, they say in IDC.
An analysis of the dynamics of various subsectors of the market showed that design-oriented services continue to outperform services related to outsourcing, support and training in terms of growth. At the end of 2017, the total revenue from services related to projects rose by 5% and reached $366 billion. A significant part of this increase was provided by the business consulting segment, where specialists registered an increase of 8.2% and revenue of $115 billion.
More than two-thirds of the market for design-oriented services is occupied by services in the field of IT projects, including software Custom Application Development, CAD IT consulting and system integration. Although the listed sectors grew more slowly than the business consulting segment, the dynamics in them significantly improved compared to 2016. As a result, the total revenue in these three areas increased by 3.7% and reached $251 billion.
From a geographical point of view, the United States remains the largest market for IT services and business services, in second place in Western Europe. At the same time, emerging markets in Latin America, Central and Eastern Europe, the Middle East and Africa, as well as the Asia-Pacific region, are showing more pronounced growth.[5]
Twofold growth in M&A deals
The IT services market has become more active for M&A transactions M&A (). The volume of corresponding investments has doubled. This was reported in the consulting company Hampleton.
Experts say the European IT services industry has always seen an abundance of deals, highlighting demand for new IT infrastructure from traditional tech companies, cloud players and even international investment funds. However, in the first half of 2017, M&A activity in the sector was on a "seismic take-off."
During this period, M&A contracts totaling $21.9 billion were concluded on the global IT services market against $10.75 billion in the second half of 2016. The indicator of the first half of 2017 turned out to be the second largest in history after 2011.
Although most of the treaties came from North America, Europe's share in this regard increased to about one-third of the total number of transactions. The main trends in the market were as follows:
- transactions involving private investors are recovering from a global recession and uncertainty over a planned Great Britain exit; European Union
- large cyber attacks spurred demand for information security assets;
- a new wave of outsourcing transactions has become the main stimulant of the entire M&A market in the field of IT services;
- cloud projects are becoming a priority for investors;
- destabilizing the business of large traditional participants in the IT services market generates new transactions;
According to analysts, if before mergers and acquisitions in the IT services industry were concluded mainly between companies from one region, then in the first half of 2017 more than half of the 50 largest transactions belonged to international ones. In July-December 2016, the share did not exceed 40%.[6]
2016
Gartner Data
According to Gartner's forecasts for global IT spending in 2016-2017, the IT services segment is in second place in terms of growth, second only to the software segment.
In 2016, according to analysts, the global IT services market will grow by 3.9%, to $900 billion, and in 2017 - by 4.8%, to $943 billion.
2014
Gartner Data
In early June 2015, the list of the largest IT service providers in the world was released. The leaders in 2014 remained IBM and, HP however, the revenues of these American vendors in the market fell. The largest increase in revenue was demonstrated by Indian and South Korean companies.
According to Gartner data for 2014, IBM had the largest revenue from the sale of IT services - $54.8 billion. Compared to 2013, the company experienced a 3.5 percent decline. Even more - by 6.5% - sales of IT services from HP fell, which in the ranking of analysts follows IBM.
The following companies took the third to tenth places in the list of companies with the highest revenue indicators in the IT services market:
The latter's revenues amounted to $12.7 billion. The South Korean edition of Business Korea draws attention to the entry into TOP-30 of the local company Samsung SDS. She is in 27th position in 2014 against 30th a year earlier. In 2014, Samsung SDS earned about $7.5 billion on IT services, which is 16.4% more on an annualized basis. This rise was almost the largest among all market participants: only the Indian TCS was able to show higher dynamics, measured by 19.1%.
At an event to celebrate the 30th anniversary of Samsung SDS (April 2015), company president Jun Dong-soo said Samsung SDS could be one of the top ten IT service providers by 2020 and increase revenue to 20 trillion won ($18 billion).[7]
It was rumored that Samsung SDS could join another member of the Samsung Group conglomerate, Samsung Electronics Corporation. The latter denied the possibility of a merger with a sister IT company.
"Management wants to be clear that we do not plan to merge with Samsung SDS," said Robert Yi, head of investor relations at Samsung Electronics, on June 3, 2015[8]
2013: Gartner: IaaS and BPaaS show maximum growth
According to Gartner Gartner[9] forecasts from March 2013, the global IT services market will increase by 5.2% in 2013 and continue to grow steadily until 2016. However, growth will be more concentrated in new market segments and relate to new service delivery models, although positive dynamics in the consulting and implementation segments is not excluded.
Growth in certain segments of the IT services market will be uneven. Thus, the smallest growth dynamics is expected in the hardware and software support segment. It was predicted that the revenue of service providers in the infrastructure as a service (IaaS) and business processes as a service (BPaaS) segments will grow as quickly as possible: here growth will be 13.1% and 47.3%, respectively, in 2013.
Convenience, not cost, is becoming a decisive factor for enterprises to implement cloud solutions, Gartner notes. Hybrid IT environments will dominate traditional client-server environments by 2016. Due to the increasing role of the new type of IT services, suppliers will need to be convincing to customers and provide the proper competencies and quality of service, which is not a trivial task.
In this regard, Gartner analysts gave three main recommendations to IT service providers for 2013. First, they called for minimizing the number of marketing messages advertising services in a "soft form," as well as establishing pricing directly dependent on the end result of using the services. Secondly, they recommended reviewing the portfolio of services and leaving only the most competitive in it. Thirdly, they advised to determine what is decisive in the business model of a particular provider - the volume of services or specialization.
2012
Ovum data
In 2012, the global IT services market performed worst since 2002, according to Ovum researchers. The results of the fourth quarter of 2012 were relatively comparable to the results of the fourth quarter of 2011, but the results of all 12 months were disappointing: in terms of transaction volume and total contract value (TCV), the market achieved the worst parameters in a decade.
Thus, the TCV indicator in the fourth quarter of 2012, according to Ovum, amounted to $20.8 billion, which is 34% lower than a year earlier. The number of concluded transactions for a comparable period decreased by 17%, and the number of mega-transactions significantly decreased (with the value of contracts from $1 billion and more). The TCV for 2012 as a whole showed a decrease in annual terms in both the public and private sectors. At the same time, in the private sector, the TCV indicator was the worst since 1998.
According to Ed Thomas, Ovum's lead analyst, the ongoing economic uncertainty continues to have a negative impact on the IT services market in both the US and Europe. That is why, he believes, most enterprises are afraid of large projects, and a reduction in investment in IT in the public sector also plays a role.
The decrease in IT services costs among enterprises was noted in all vertical industries without exception, here the number of announced transactions decreased by 50%. In the field of health care and finance, the volume of contracts decreased by 39% and 18%, respectively. Activity in terms of concluding contracts increased only in the telecommunications and technology industries.
From a regional point of view, activity in the number of transactions concluded in the frequent sector was the maximum in Europe - it accounted for 45% of the global TCV in 2012. However, here, too, the TVC generated by industrial enterprises in 2012 decreased by 31% to $16.7 billion. The TCV for the North American private sector rose 48% to $10.5 billion in 2012.
PAC data
According to a study by Pierre Audoin Consultants (PAC), in 2012 the total volume of IT service transactions concluded decreased by 10%. Analysts tracked all publicly available contracts, including IT outsourcing and business process outsourcing, consulting, and systems integration projects. In total, the value of such contracts in the world in 2012 amounted to 48 billion euros, which is lower than 53 billion euros in 2011.
At the same time, the volume of transactions has been declining for two years in a row: in 2010, for example, it amounted to 85 billion euros. According to PAC experts, and for the foreseeable future, the market should not expect any significant surge as it becomes more mature. The market at that time was formed by four main trends.
The first trend - operating IT budgets remain under the press. Economic conditions in most regions of the world are not optimistic, so potential customers are not inclined to choose long-term IT service programs. At the same time, experienced customers continue to actively bargain with service providers, sometimes seeking a concession in the amount of 30-40% of the original contract amount.
Second, the suppliers' proposals became increasingly focused. Then the tendency to split monolithic service programs into several smaller ones is quite obvious, due to which more flexibility is achieved. Also, during this period, there was a tendency to move to non-traditional education models, in particular, based on achieving completely specific results and business value. An example of such a deal in 2012 is the departure of Rolls Royce from service cooperation with HP and the transition to several providers at the same time, where the role of service integrator is assigned to Capgemini.
The cloud market is slowly but surely absorbing the traditional profit streams of service companies. The study noted that clouds will remain one of the main drivers for launching new service projects in 2013, as more companies are interested in creating private cloud services. As an example of such a project, we can recall, for example, the BP and T-Systems project for transferring 100 thousand mailboxes of an oil company to its own cloud infrastructure.
In addition, offshore delivery is becoming standard practice. At the very least, this claim is entirely true for large commercial organizations in the United States and the United Kingdom. In particular, Indian service companies remain very attractive. Over the past 12 months, several major offshore service projects have been announced by Apple, ING and Shell.
PAC forecasts that in 2013, at the peak of demand, there will be more targeted solutions to specific problems, so IT service providers will have to seriously work on both their applications and their competitive advantages in an increasingly mature market.
IDC data
On March 27, 2012, International Data Corporation (IDC) presented two reports in a new form, MarketScape, which are designed to assess the weaknesses and strengths of global IT consulting companies. In the first case, we are talking about the architecture of the corporate infrastructure, in the second - about the transformation of the data center.
The set of MarketScape diagrams vaguely resembled Gartner magic quadrants, but the IDC infographic is much more sophisticated and, as a result, made it possible to clearly display and evaluate more parameters. Unfortunately, the images and accompanying tables themselves are only available in paid versions of reports. Actually, they make up the quintessence of research results in the MarketScape format.
IDC called Accenture, IBM and HP the "leaders" in the global market for consulting services in the field of transformation of data centers, while in the market for services in the field of corporate infrastructure architecture - Deloitte, IBM and PriceWaterhouseCoopers.
IDC named seven companies as "key players" in the data center transformation consulting market: Capgemini, CSC, Dell, Deloitte, Infosys, KPMG and PriceWaterhouseCoopers. There are only five "key players" in the corporate infrastructure architecture consulting services market: Accenture, Capgemini, CSC, HP and KPMG.
Pricing, sales and distribution were among the most common for both reports, among the strongest were a high level of expertise, a verified portfolio of offers, and a high degree of compliance with customer expectations.
According to Gard Little, Director of IT Consulting and Systems Integration Research, the main factors driving demand for data center transformation services are the need to improve operational efficiency and consolidate computing resources. In turn, with the advent of the cloud computing model, new types of mobile devices, business analytics systems and social media, the architecture of the corporate IT infrastructure has undergone many changes, and this again has a positive effect on the demand for consulting services.
EMEA Region
According to IDC MarketScape: EMEA Business Consulting Services, the following companies lead the business consulting market in EMEA in 2012: PricewaterhouseCoopers, IBM, Deloitte, Ernst & Young, Accenture, KPMG.
IDC, 2012
The second most important group IDC included companies McKinsey,,,. BCG BearingPoint CSC Only one company fell into the group of applicants - Booz & Company.
2011
Q3
In the third quarter of 2011, the global IT services market showed moderate growth quarter-on-quarter in terms of signing new contracts, research company Ovum said. However, the total number of concluded transactions and the total contract value (TCV) were lower than in the same quarter of 2010.
TVC reached 20.3 billion euros in the third quarter of 2011, which is 43% more in quarterly terms and 9% less in annual terms. As for the number of contracts, it then increased from 384 to 416 quarter to the quarter of 2011, but the indicator of the third quarter is 12% lower than the same period in 2010.
Growth in private sector TVC returned to growth in the third quarter, but it is still even lower than it was in 2010, according to Ovum. In Europe, the private sector TVC reached 2.2 billion euros in the third quarter of 2011, more than a third of this is in the UK.
According to study author and Ovum analyst Ed Thomas, after another disappointing quarter, it may well turn out that the 2011 TVC will be the lowest in 8 years. "Now vendors can only hope that the fourth quarter will correct the situation as last year: then the unprecedented number of mega-deals concluded raised TVC in three months to 37.1 billion euros," he said.
Q2
According to Ovum, the amount of all contracts concluded in the second quarter of 2011 for the provision of IT services reached $19 billion - the lowest value since the first quarter of 2003. At the same time, not one large transaction was recorded, the size of which would be $1 billion and more. Among the largest transactions then noted: a 5-year contract for the supply of computer equipment to the tax office in Australia, signed with HP ($500 million), and two transactions worth more than $100 million, including a 5-year contract between the Indian Tech Mahindra and the Australian branch Vodafone.
In the second quarter of 2011, the amount of all contracts concluded in the world for the provision of IT services and the supply of equipment decreased by 40% compared to the same period of 2010 to the minimum value over the past 8 years, the consulting agency Ovum reports.
In addition, Ovum analysts noted a decrease in the number of contracts for the fourth time: in the second quarter of 2011, their number was 384, which is 20% less compared to the same period in 2010. Thus, there are fewer transactions, and they themselves become cheaper, experts summarize.
Europe accounted for 58% of the private segment of the global IT services market in Q2. This was mainly due to customer activity in Denmark, Finland, Norway and Sweden. For comparison, North America, which was traditionally considered one of the main markets, during this period accounted for only 15.5% of the private sector's volume, compared to 39% a year earlier.
Notes
- ↑ IDC Semiannual Services Tracker Reports Moderate Growth for Services Revenues in 2023 with Stable Growth Forecast for the Next Five Years
- ↑ medium=rss feed&utm source=alert&utm campaign=rss syndication IDC Boosts Its Forecast for the Worldwide Services Market Due to a Soft Landing in 2020 and a Strong Return to Growth in 2021
- ↑ [1]medium=rss feed&utm source=Alert&utm campaign=rss syndication/ Worldwide Services Market Momentum Derailed by COVID-19 Pandemic, According to IDC
- ↑ Worldwide Services Revenue Crossed $1 Trillion Mark in 2018, According to IDC
- ↑ Worldwide Services Revenue Posts Steady Year-Over-Year Growth in the Second Half of 2017, According to IDC
- ↑ EUROPEAN IT SERVICES SEE STRONG 2017 M&A ACTIVITY
- ↑ Samsung SDS Enters Top 20 in Global IT Services
- ↑ Samsung Elec says no plans to merge with Samsung SDS
- ↑ Says Service-Led Solutions Will Displace Traditional Sourcing Approaches Through 2015