IDC Confirms Slower Growth All Around in the Worldwide Services Market
FRAMINGHAM, MA – NOVEMBER 25, 2008 – A new study from IDC forecasts that worldwide services spending will grow 5.2% year over year in 2009, down 1.5 percentage points from the previous forecast. IDC estimates that the remaining years in the forecast period, through 2012, will also grow slower than predicted earlier.
"Services spending will not contract as it did in the previous economic downturn, however the effects of the current economic crisis will reduce spending growth in the services market across the entire forecast period," stated Gard Little, research manager, Worldwide Services and Emerging Services Opportunities research.
This IDC study also highlights changes in worldwide services spending growth rates by macromarket, including the following:
* Project-oriented: Growth rates are forecast to slow to less than 3% in 2009, but then increase by the end of the forecast period.
* Outsourcing: The business process outsourcing services market is the largest portion of the services market overall and will be the major driver in growth rate changes. Even with the decrease in growth rate for the hosted application management market, it still remains the fastest-growing market opportunity.
* Support and training: Growth rates are forecast to remain below 3% for the remainder of the forecast period. Smaller spending increases are expected in both the hardware and software deployment and support markets.
This IDC study, Worldwide Services 2008–2012 Forecast Update (IDC #214464) presents an updated five-year forecast for the worldwide services industry from 2008 through 2012. The purpose of this update is to identify new trends or changes in assumptions that are influencing worldwide service opportunities and discuss their effects on the worldwide services five-year forecast.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 100 countries. For more than 44 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.