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Global IT Services: Rapid Push for Digital Transformation Fuels Growth
2021 Q3 global IT spending estimates were recently published by analysts IDC, Technavio, Gartner and ISG, and spending is way up.
ISG reports that cloud service spending is up 55 percent this year and that managed services are up 40 percent.
Steve Hall, president at ISG, said that “this is not just pent-up demand coming out of the pandemic, but a real structural shift for the market as enterprise customers accelerate their digital transformation strategies, modernise their legacy environments and move to the cloud. We see this trend continuing for the foreseeable future, even against some economic headwinds. There is no let-up in sight.”
Hall told ComputerWeekly that “our outlook for the technology and business services market remains bullish, with the volume of managed services deals in the pipeline indicating strong buying intentions among enterprises seeking digital transformation partners. The market is no longer dependent on larger deals and the smaller deals, we believe, will eventually grow into larger engagements as transformation efforts continue to pick up steam.”
Although, long-term, IDC is not as optimistic. Xiao-Fei Zhang, research directory at IDC, said that “the need for digital transformation and the demographic squeeze on (the right) talent pool, expedited by the pandemic, global supply chain disruptions, and lose monetary policies, have created the perfect push and pull for enterprise buyers; therefore, our long-term growth outlook for the IT and business services market remains sanguine.”
