Saturday, June 25, 2022

IT services market turning around

By Juan Carlos Perez

Companies will spend slightly more on IT services in 2003 than last year, an increase prompted in part by the purchasing of outsourcing services that help companies reduce costs and improve their IT infrastructure, according to a recent Gartner Inc. study.

Spending on IT services worldwide is expected to reach US$555 billion in 2003, up 3.5 per cent from 2002, Gartner said.

The expected increase also represents a turnaround for the market, which shrank less than one percent in 2002 compared with 2001, to US$536 billion from US$540 billion, Gartner said.

IT budgets are expected to increase next year, as companies improve their financial outlooks and feel the need to invest in IT to remain competitive, Gartner said. Consequently, Gartner forecasts IT services spending to grow 5.2 per cent in 2004 to US $584 billion.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

Related Tech News

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.