target audience: TECH SUPPLIER Publication date: Nov 2023 - Document type: Market Forecast - Doc Document number: # US50051923
Worldwide Services Forecast Update, 2023–2027
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Abstract
This IDC study updates the 2023–2027 market sizing and growth rates for the worldwide services market.
"Economic downturn and inflation remain the biggest challenges to IT spending by organizations, likely resulting in services growth in the low single digits in 2023 and 2024," said Nishant Bansal, associate research director with IDC's Worldwide Services program. "Due economic pressures, services market growth for 2023 and 2024 in constant currency has been lowered by almost 1% compared with the previous forecast as organizations are focused on rethinking discretionary spending and cutting their investments toward automation using 3rd Platform technologies."