IDC predicts software services market will reach US$34.3 billion

The market will experience a gradual switch to online support and self-help support options, reports IDC.

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By  Greg Wilson Published  April 15, 2003

The software services market is set to rack up a 7.7% compound annual growth rate (CAGR) as it reaches an estimated US $ 34.3 billion market value by 2007. The market will also experience a gradual switch to online support and self-help support option reports IDC.

Companies will continue to demand onsite support, however, its growth will be lower than for other service activities such as remote diagnostics and electronics support.

“To remain successful in the software deploy and support market, we believe vendors need to continuously improve and integrate their support offerings and offer high-availability and mission critical support,” says Christine Tenneson, program manager, Software and System Support Services at IDC.

“In addition, we believe it is critical for vendors to improve support interactions with other vendors, focus on improving partner support, and plan for remote services and other proactive services,” she says.

From a regional perspective, the US will make up 55% of the market, Europe 35% and Asia/Pacific just 10% of the total market.

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