Business As Usual for the Western European Services Industry in 2001, IDC Says
LONDON – FEBRUARY 7, 2001 – The year 2000 has become synonymous with disaster of one kind or another from IT stocks plummeting through to the lack of direct fallout from the millennium bug. Was the huge quantity of money both government and major companies spent on IT services really necessary?
According to IDC, the impact on the European IT services market was clear – companies were slower to renew contracts and more careful about signing new ones, with business consultants reaping benefits from endless needs assessment studies. "The first half of the year was not good, with spending lethargy hurting most of the IT services vendors’ revenues," said Jamie Snowdon, manager of IDC's European Services research. "Despite a healthy second half, or to be more accurate – last quarter – revenue growth of the leading vendors for the entire year 2000 was less than anticipated."
As a result, spending in 2000 was slightly less than anticipated, but will this change this year? Is it business as usual or did the slight improvement in Q4 2000 redress the balance?
IDC has examined the primary IT services markets for 2000 and is beginning to review forecasts for 2001 and beyond. "Much of the slump in growth during the first half of 2000 can be attributed to the change in procurement cycles brought about by the year 2000," Snowdon said. "Companies’ normal buying patterns were disrupted in the run up to 2000, and this continued during the first part of the year. However, these procurement issues are mostly resolved, so we can expect 2001 to be more stable, with growth in more complex IT solutions to be expected."
Against this background, IDC's eServices Forum will address the opportunities and challenges that businesses face when seeking the necessary services to succeed in technology-driven business environments.
IDC's eServices Forum, February 19-20, 2001 – Millennium Gloucester Hotel, London
The eServices Forum is the place to interact with Europe's premier services research group, learn from seasoned services professionals and gain insights that will give you a head start toward success in tomorrow's business ecosystems. Press registration for this event is complimentary.
Editor's Note: For more information or attendee registration, visit http://emea.idc.com/forum/eservices01/ or call +44 20 8987 7168. For press passes, please contact Mathew Heath on +44 20 8987 7107 or firstname.lastname@example.org. IDC speaker interview requests are also being processed in advance of IDC's eServices Forum by Mathew Heath. Advance scheduling is recommended because space and availability of experts are limited.
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at emea.idc.com.
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