IDC Predicts Worldwide Business and IT Consulting Markets to Pick Up in 2003, Despite Convergence of The Two Services Markets
FRAMINGHAM, MA – MAY 28, 2002 – Despite tremendous changes taking place on the demand and supply sides, IDC reveals that the worldwide business consulting and IT consulting services markets will both recuperate by 2003, and reach $54.2 billion and $32.2 billion respectively in 2006. The global business consulting market will increase at a slightly faster pace than the IT consulting market (11% compared to 9.8% through 2006), two new reports from IDC estimate.
"One common trend to both consulting services markets is the expected decline of the overall volume of standalone business consulting and IT consulting activity, especially in more mature regions such as the United States" said Anna Danilenko, program manager, Consulting Services research. "Both business and IT consulting engagements are increasingly being bundled with other solutions and services. However, IDC believes the decline of the standalone IT consulting engagements is taking place more rapidly than in the business consulting market".
Furthermore, IDC observed that the clear distinction between business and IT consulting segments is starting to disappear as business and IT issues are becoming increasingly interrelated in the modern marketplace. IDC predicts that the number of business consulting boutiques and IT consulting pure-plays will decline. An increased number of IT services vendors will provide both business and IT consulting services.
In regard to the global outlook for business and IT consulting services markets, the United States will remain the largest market, followed by EMEA. The Asia/Pacific region, although smaller, is the fastest-growing market in terms of business and IT consulting services spending.
The two studies from IDC, U.S. and Worldwide Business Consulting Services Market Forecast and Analysis, 2001-2006 (IDC #26749) and U.S. and Worldwide IT Consulting Services Market Forecast and Analysis, 2001-2006 (IDC #26730) analyze major trends, drivers, and inhibitors of the business consulting and IT consulting services markets respectively. Both reports examine spending by region (i.e., Americas, EMEA, and Asia/Pacific), industry vertical and solution service, and include markets sizing and forecast for 2000-2006. The two studies also provide ranking of the top 10 worldwide and U.S. providers in business consulting and IT consulting services respectively. Finally, opportunities are identified and recommendations are offered to assist readers in leveraging key success factors and strategies in each market.
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