Services market witnesses revenue increase

The global services market is on the up according to IDC as the world’s top 30 providers grew 10.7% for the first three quarters of 2003.

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By  Matthew Southwell Published  January 28, 2004

The global services market is on the up according to IDC as the world’s top 30 providers grew 10.7% for the first three quarters of 2003, compared to the same period in 2002. Within the services sector, outsourcing revenues grew the fastest and witnessed 16.5% growth. However, the analyst house reports that this often came at the expense of consulting and system integration services revenues, which experienced a decline in 2003. “It would be tempting to say there was a ‘rebound’ in the services industry in the first three quarters of 2003,” says Alex Motsenigos, senior research analyst for worldwide services at IDC. “However, most of the growth experienced by the top 30 vendors was due to both a weakening US dollar favoring companies doing significant business outside the US, and acquisitions made by leading services vendors in 2003,” explains. Some of the notable acquisitions last year included IBM’s acquisition of PwC Consulting, BearingPoint’s acquisitions of Andersen Business Consulting and KPMG Consulting AG, CSC’s acquisition of DynCorp and Northrop Grumman’s acquisition of TRW.

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