Global services revenue hits USD1tr

Global services revenue hits USD1tr

Revenues for IT services and business services worldwide reached USD1tr in 2018, according to the International Data Corporation (IDC) Worldwide Semiannual Services Tracker. The revenues amounted to USD513bn in the second half of 2018, up by 4.5% year-on-year (in constant currency), IDC said. Annual growth rose by 4.3%, overtaking worldwide GDP growth by more than half a percentage point. This represents overall healthy corporate IT spending sustained by large enterprises’ cautious yet optimistic business outlook, the IDC added. “Steady growth in the services markets is driven by a continued demand for digital solutions across the regions, with the Americas continuing to contribute to the bulk of the revenue growth,” said Lisa Nagamine, research manager for the IDC’s Worldwide Semiannual Services Tracker. She added that “2018 surpassed the trillion-dollar mark, as we had forecasted at the end of 2017. We expect future growth in many geographies worldwide in the coming years.”

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