Global IT Services Market Expected to Grow in 2013, Recent Studies Find
With the start of 2013, analysts and research firms recently released their projections for the high-tech sector, and they unanimously predicted the market will grow in the coming years.
According to a Gartner study, worldwide IT spending will reach $3.7 trillion in 2013, marking a 4.2 percent increase from 2012's total, $3.6 trillion. In October, Gartner had only predicted a 3.8 percent increase in year-over-year spending.
"Uncertainties surrounding prospects for an upturn in global economic growth are the major [impediments] to IT growth," said Richard Gordon, managing vice president at Gartner. "However, much of this uncertainty is nearing resolution, and as it does, we look for accelerated spending growth in 2013 compared to 2012."
Spending on enterprise software and investment in devices – PCs, tablets, mobile phones and printers – are expected to see see the largest gains, jumping 6.3 and 6.4 percent, respectively. The study also projected that by 2016, mobile data will account for nearly one-third of the worldwide telecom services market.
Meanwhile, a separate report by Forrester also predicted the global tech market to grow in the coming years. After 5.4 percent year-over-year growth in 2013, the sector is projected to jump another 6.7 percent in 2014. According to Forrester, innovative technology like big data analytics, cloud computing and mobile solutions are supposed to account for a large portion of IT spending, particularly in developed markets.
Third-party IT service companies are also expected to fare well. A recent TechNavio study predicted that the worldwide tech services market will achieve a 5.04 percent compound annual growth rate from 2011 to 2015, with outsourcing companies driving much of that growth.