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Nov 2017 - Market Forecast - Doc # US42017617

Worldwide Services Forecast Update, 2017–2021

Author: Chad Huston
Research Manager, Worldwide Services

Abstract

This IDC study details the 2017–2021 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, outsourcing, and 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 7 regions (Canada; the United States; Latin America; Western Europe; Central and Eastern Europe, the Middle East, and Africa [CEMA]; 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, 2017–2021 (IDC #US41335217, May 2017). In addition, because exchange rate volatility can have a significant effect upon 2017 growth rates, constant currency growth rates are provided in addition to the current currency methodology that IDC follows.

"Services growth is trending down for every year of the forecast period (2017–2021) compared with the forecast published six months ago as demand for services in the developing regions has softened due to sluggish economic growth," said Chad Huston, research manager with IDC's Worldwide Services program. "However, there are still pockets of growth for vendors that can focus on reskilling their IT labor around in-demand innovation accelerators such as Internet of Things (IoT) and blockchain and showcase their security services in today's current environment."

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