The IT Services Opportunity in Vertical Sectors is a new management report that provides a detailed background to the pressures and challenges facing organizations and an outline of the opportunities offered in each of the six major verticals, in the next few years. It also includes an evaluation of end user attitudes towards IT services, a breakdown of IT services spending by vertical, geography, technology and service type, and an analysis of IT budget allocations.
North America is by far the largest market for IT Services and will account for over $278 billion, or 42%, of the global IT Services market by 2008. It is becoming less common for financial services institutions (FSIs) to hand over their IT assets to a single outsourcing vendor – mirroring the broader trend towards more selective sourcing models.
Within the IT services sector, infrastructure services will grow the fastest at a CAGR of 9.1% to reach $213.5 billion by 2008. In terms of IT investment objectives, raising efficiency was seen as the most important in Energy and Utilities, followed by the need to achieve or maintain regulatory compliance. The BPO services market will grow at a CAGR of 8.6% from 2004 to reach $145.4 billion by 2008. Market conditions make global oil majors and independent exploration and production companies ripe targets for IT services vendors.
