target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Presentation - Doc Document number: # EUR150310623
European Services Forecast, 2Q24: Executive Summary
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Abstract
This IDC Market Presentation provides an analysis of the services market in Central and Eastern Europe and Western Europe in 2023 and forecasts expenditure on services through 2026. It is based on IDC's Semiannual Services Tracker, which was updated in April 2024. It includes the IT services and business consulting markets, along with 2023 top vendor market shares. It also highlights growth drivers and inhibitors as well as presents key points for technology suppliers to consider.
"While current economic development rates in Europe indicate the region is set for another challenging period that will likely take a toll on organizations' services spending in 2024, the correlation has weakened in recent years as business leaders view investments in new technologies as solutions to mitigate the unrelenting headwinds, remain competitive and relevant, and simply survive." — Senior Research Manager Milan Kalal, IDC European Services Group.