The U.S. Web Services-Based Professional Services Market to Experience Spectacular Growth and Pass the $7.1 Billion Mark by 2006, IDC Reveals
FRAMINGHAM, MA – MAY 28, 2002 – IDC predicts the professional services around Web services-related projects to generate $7.1 billion in the United States by 2006, representing a spectacular compound annual growth rate (CAGR) of 116%. IDC defines professional services related to Web services as consulting, application development, and system integration activities that are performed by external services organizations based on the Web Services ArchitectureSM (WSA) concept.
"Given the complexity of Web services, consultants and system integrators will be instrumental in forwarding the adoption of Web services among enterprises," said Sophie Janne Mayo, director, Wireless and eCommerce Implementation Services research. "The professional services firms that are winning early Web services-related projects are gaining the necessary experience around the Web services standards to position themselves well for the inflection point of adoption that will come in 2005."
While not without challenges, the Web services-based professional services market is driven by clients’ need to reduce transaction costs, to go one step further in the integration of business functions, and to create new business models. Other drivers include the ability of professional services firms to leverage expertise built during enterprise-wide application implementations, and Web technology advancement.
IDC expects a phased adoption for Web services, very much like the Internet was phased in from the intranet (facilitating internal communication) to the extranet (facilitating communication with partners) to the Internet (facilitating communication with any one).
In this new study, U.S. Web Services-Based Professional Services Forecast and Analysis, (IDC # 27093), IDC defines the components of the Web services market, highlights the current U.S. market dynamics, and predicts the professional services opportunity around Web services-related projects. IDC further estimates the U.S. market opportunity by engagement type including business consulting, IT consulting, system integration and custom application development. The study identifies challenges ahead, and finally makes recommendations for professional services firms.
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