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May 2018 - Market Forecast - Doc # US42657418

Worldwide Services Forecast, 2018–2022

Author: Chad Huston
Research 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 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 Update, 2017–2021 (IDC #US42017617, November 2017). 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.

"The general mood in the services market is more bullish than any point in the past five years," said Chad Huston, research manager with IDC's Worldwide Services program. "Strong vendor results in the second half of 2017, driven by new services built around digital transformation and workplace services, as well as the expansion into new domains like digital agency and operational technology (OT), have been the catalyst of the improvement."

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