Global IT, business services to hit USD1tr in 2018

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Global IT services and business services revenues are forecast to exceed the USD1tr mark for the first time in 2018 after hitting USD936bn this year. This was the new forecast from the International Data Corporation. By 2020, the IT services and business services revenue is forecast to hit USD1.1tr, the report noted. For this year, IT services revenue is expected to reach USD649bn while business services revenue will hit USD287bn to reach a total of USD936bn. The report said the Asia Pacific region will have the highest overall growth rate, at 6.8% this year and 5.4% in 2020. The largest services markets will be key horizontal business process outsourcing and systems integration services.