IDC Pegs the Worldwide Services-Supply-Chain Vertical Applications Market at $34 Billion in 2004
FRAMINGHAM, MA – JUNE 26, 2000 – Revenues in the worldwide services-supply-chain (SSC) vertical applications market (which includes the financial services, healthcare delivery, and professional/AEC services segments) are on a growth track that will leave them at $34 billion in 2004, up from $18.5 billion in 1999. Through 2004, the fastest-growing segment of the market will be SSC applications for professional/AEC services. This data comes from a new IDC report titled Services-Supply-Chain Vertical Applications Market Forecast and Analysis, 2000-2004.
The SSC vertical applications market includes applications that are designed to automate specific industries and industry-related functions in the services supply chain.
“Many factors are fueling growth of these applications. The main factors include competitive pressures within the services supply chain caused by the rapid launch of new services and customer demand for better responsiveness,” said Dennis Byron, program director for IDC's Services Supply Chain and Vertical Applications research.
According to IDC, revenues in the professional/AEC segment will increase at a compound annual growth rate (CAGR) of almost 18%, from $2.8 billion in 1999 to $6.4 billion in 2004. In comparison, the overall market will increase at a CAGR of 13%. IDC believes application service providers will contribute to growth in this segment.
In 1999, the largest segment of the market was financial services, and through 2004, it will continue to generate the largest portion of SSC revenues. However, at a 1999-2004 CAGR of 9.7%, it will grow slower than the overall market.
The market for healthcare applications will be the slowest-growing segment. Its revenues will increase at a CAGR of 9.5% from $3.8 billion in 1999 to $6 billion in 2004. The professional/AEC segment will grow larger than the healthcare segment for the first time in 2004.
Services-Supply-Chain Vertical Applications Market Forecast and Analysis, 2000-2004 (IDC #B22292) analyzes the overall market as well as individual functional markets, including financial services, healthcare delivery, and professional/AEC services. The report forecasts revenues in each market through 2004, segmented by operating environment, geography, and vendor class The report also compares vendors’ 1999 revenues and market shares in each segment. For each segment, 1999 market performance is thoroughly discussed, and trends affecting market growth are analyzed. To purchase the report, contact Cheryl Toffel at 1-800-343-4952, ext. 4389 or at email@example.com.
IDC delivers dependable, high-impact insights and advice on the future of ebusiness, the Internet, and technology to help organizations make sound business decisions. IDC forecasts worldwide markets and trends and analyzes business strategies, technologies, and vendors, using a combination of rigorous primary research and in-depth competitive analysis. IDC provides global research with local content through more than 500 analysts in 43 countries worldwide. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at http://www.idc.com.
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