IT and business services revenue up 4% to $475 bn in H1 2017

IT and business service 2017
IT Services and Business Services revenue rose 4 percent to $475 billion in the first half of 2017, according to IDC.

Worldwide services revenues will exceed $1 trillion in 2018.

IT Services delivered more than two thirds of services revenue in H1 2017. Spending on Business Services grew faster than the overall market at 6 percent.

IT Services revenues were driven by spending on technology outsourcing and project-oriented services, such as application development and systems and network implementation. Business Services spending was led by business process outsourcing and business consulting services.

Business process outsourcing revenue was $92.9 billion. Systems integration revenue was $62.1 billion. Business consulting was the third largest, followed by IT outsourcing and software deploy and support services.

IDC said the fastest growing markets were hosting infrastructure services (9.8 percent growth) and business consulting (8.2 percent growth). IT outsourcing market revenues fell.

The United States was the largest services market with revenues of $216.7 billion. Western Europe was the second largest region. Asia Pacific (excluding Japan) was the third largest region for services market.

“Steady growth in the services market is largely driven by a continued demand for digital solutions with cloud-related services expected to surpass the $100 billion mark this year,” said Lisa Nagamine, research manager with IDC’s Worldwide Semiannual Services Tracker.

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