TECH SUPPLIER Aug 2022 - Market Forecast - Doc # EUR147902122

European Services Market Forecast, 2021–2026


Milan Kalal
Matthew Wilkins

This IDC Market Forecast discusses the services market in Central and Eastern Europe (CEE) and Western Europe (WE) in 2021 and forecasts expenditure through 2026. It is based on IDC's Semiannual Services Tracker, which was updated in April 2022. The report contains market size and distribution by 14 foundation markets — 12 IT services markets and two business services markets, including a further split into five business process outsourcing (BPO)-related subfoundation markets — across CEE and WE countries. It also highlights growth drivers and inhibitors and presents key points for technology suppliers to consider.

"The European services market had a very successful 2021, with most vendors returning to growth due to pent-up demand and the accelerated digital push. While organizations' appetite for making their operations more efficient, profitable, and resilient will persist in 2022, we expect the growth rate to taper for the near term, driven by worsening economic conditions, a tight labor market, and other shocks such as the Russia-Ukraine War," said Milan Kalal, senior research manager, IDC European Services Group.



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