Monday, September 26, 2022
HomeDigit NewsIDC analysts predict that the services market will grow steadily over the...

IDC analysts predict that the services market will grow steadily over the next five years

Global revenue from IT services and business services this year will grow by 5.6% compared to last year. Even after adjusting for the “dollar denomination”, the growth will be 4.2%. This forecast is given by specialists of the analytical company IDC. They note that growth is associated with an improvement in economic prospects, but inflation is also affected, which in the short term can artificially increase the size of the market. However, inflation is largely offset by the instability of demand and rising labor costs.

IDC believes that over the next few years the market will continue to grow at 4-5% per year. Looking at individual regions, analysts predict that America will grow by 5.3% in 2022. Growth is forecast for the Middle East and Africa, Asia Pacific, Japan and China. More specifically, China is expected to grow by 6.4% this year and 8% in the future.

Although Europe, according to IDC, is the region most affected by the “Ukrainian-Russian conflict”, analysts are confident that growth will be observed here as well. Thus, in Central and Eastern Europe this year it will be 5.5%, next year – 7.3%. The Russian and Ukrainian markets will shrink significantly this year, while the Western European market will grow by more than 6%.

The main driver of growth in all regions over the past two years has been spending on cloud services. IDC predicts that this situation will continue: in 2022, these costs are expected to grow by about 20%, in the next three years – by 15% -20% annually.

- Advertisement -


Two Wheeler


Digit News