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TECH SUPPLIER Nov 2018 - Market Forecast - Doc # US43464318

Worldwide Services Forecast Update, 2018–2022

By: Chad HustonResearch Manager, Worldwide Services

Abstract

This IDC study details the 2018–2022 market sizing and growth rates for the worldwide services market. This market is broken down into two major views. The first is the macromarket view, which segments the services market into three macromarkets (project-oriented services, managed services [previously called outsourcing services], and support services [previously called support and training services]), which are then broken down into a further 14 foundation markets. The second is the regional view, which is broken into eight regions (Canada, the United States, Latin America [LA], Western Europe, Central and Eastern Europe [CEE], the Middle East and Africa [MEA], Asia/Pacific [excluding Japan] [APEJ], and Japan). The Market Forecast section provides a variety of quantitative data as well as qualitative commentary for each of these views. Special attention is paid to how the growth rates have changed compared with the forecast that was published six months ago in Worldwide Services Forecast, 2018–2022 (IDC #US42657418, May 2018). In addition, because exchange rate volatility can have a significant effect upon 2018 growth rates, constant currency growth rates are provided in addition to the current currency methodology that IDC follows.

"Overall, expectations for the worldwide services market have increased thanks to improved conditions in Western Europe and Latin America. The services growth rate increases in those regions were enough to counterbalance declines in Asia/Pacific and the Middle East," said Chad Huston, research manager with IDC's Worldwide Services program. "It's a unique time in the services market, most enterprises are finally doing well enough to spend money on more than just cost cutting, and because many are seeing competitive threats from nimble start-ups, they are working to revamp their business models to gain capabilities in digital products and services."


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