IDC analysts predict that over the next five years, the services market will grow steadily

Global revenue from IT services and business services will grow by 5.6% this year relative to last year. Even if corrected for the “dollar denomination,” the growth will be 4.2%. This forecast is given by specialists of the analytical company IDC. They point out that the growth is connected with the improvement of economic prospects, but it is also affected by inflation, which in the short term may artificially increase the size of the market. However, inflation is largely offset by unstable demand and rising labor costs.

IDC believes the market will continue to grow at an annual rate of 4-5% over the next few years. Looking at individual regions, analysts predict that the Americas will grow 5.3% in 2022. Growth is projected for the Middle East and Africa, Asia-Pacific, Japan and China. More specifically, China is expected to grow 6.4% this year and 8% next year.

Although Europe, according to IDC, is the region most affected by the “Ukrainian-Russian conflict,” analysts are confident that growth will be seen here as well. For example, in Central and Eastern Europe this year it will be 5.5%, and next year it will be 7.3%. The markets of Russia and Ukraine will shrink significantly this year, while the market in Western Europe will grow by more than 6%.

The main driver of growth in all regions over the past two years continues to be spending on cloud services. IDC predicts that this will continue: in 2022, these costs are expected to grow by about 20%, and in the next three years – by 15%-20% annually.

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