Spending on IT services will grow an average of 4.4% every year until 2015 with healthy growth returning in 2013.
That’s according to the latest research from Ovum and is the result of a combination of “pent-up demand and a slowly improving economy.”
Ovum said the 2011 spending growth is below pre-recession levels but there will be strong pre-recessionary growth of over 4.5% by 2013. The global IT services market will be worth $756bn by 2015.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
In 2010 growth never reached 2%, said Ovum.
In terms of service line demand business process outsourcing will experience the strongest growth from 2010 to 2015, according to Ovum. This is followed by infrastructure-led outsourcing and support services. Ovum also said application outsourcing is set to see strong growth as businesses decide they can no longer put upgrades off.
Ovum has also put together a top 50 of global IT service vendors in terms of market share. IBM came top followed by HP and Fujitsu. All three had declining markets shares.
It also revealed that most of the companies that have increased market share in the last year were Indian suppliers including TCS, Infosys and Wipro. I blogged earlier about the confident stance of the man than heads up Nasscom, the industry body that represents Indian IT service providers. He believes that the Indian IT services sector will grow 15% this year to be worth $70bn, despite facing major challenges.
See a comment from outsourcing lawyer Mark Lewis of Berwin Leighton Pasner at the foot of that blog post. It suggests the honeymoon period for Indian suppliers, which has lasted over a decade, could be over.