Wednesday, 14 June 2006 15:33

Asia Pac IT services doubles global growth rate

By
The IT services market in the Asia Pacific region grew more than twice as fast as the world as a whole in 2005, according to new research. Worldwide IT services revenue totalled US$624.4 billion in 2005, a 6% increase from 2004 revenue of US$588.9 billion, according to IT analyst firm Gartner.

Meanwhile, Asia Pacific's IT services market revenue grew 12.7% to US$38 billion in 2005. However, as in 2004, currency appreciation in Asia Pacific played a major role in artificially boosting IT services market growth in this region in 2005. If the local currencies in Asia Pacific countries held constant in 2005, the region would have grown by just 7.5%.

For the first time since 2000, software support and project-based services outpaced outsourcing services as the key growth area for the worldwide IT services market.

IBM continued to be the worldwide market leader, but its growth rate was well below the industry average at just 2.5%. Second placed EDS fared even worse, with negative 0.5% growth rate. Third and fourth placed Fujitsu and HP were also below the global average, growing 5.9% and 4.1% respectively. Fifth and sixth placed Accenture and CSC were the only vendors in the top 6 that experienced revenue growth rates above the overall market average. However, while sixth placed CSC came in just above the global average at 6.1%, Accenture was the standout performer, posting growth of 13.1% in 2005.

Healthcare organisations provided the greatest growth in spending on external IT services providers in 2005, however this segment is relatively small compared to other verticals. The healthcare category increased its spending from $17.9 billion in 2004 to $19.4 billion in 2005, representing a growth rate of 8.7%. The financial services market continued to be the largest vertical for IT services revenue with revenue totalling $141.3 billion in 2005, a 7% increase from 2004.

Subscribe to Newsletter here

WEBINAR 12 AUGUST - Why is Cyber Security PR different?

This webinar is an introduction for cyber security companies and communication professionals on the nuances of cyber security public relations in the Asia Pacific.

Join Code Red Security PR Network for a virtual conversation with leading cyber security and ICT journalists, Victor Ng and Stuart Corner, on PR best practices and key success factors for effective communication in the Asian Pacific cyber security market.

You will also hear a success story testimonial from Claroty and what Code Red Security PR has achieved for the brand.

Please register here by 11 August 2020 and a confirmation email, along with instructions on how to join the webinar will be sent to you after registration.

Aug 12, 2020 01:00 PM in Canberra, Melbourne, Sydney. We look forward to seeing you there!

REGISTER NOW!

PROMOTE YOUR WEBINAR ON ITWIRE

It's all about Webinars.

These days our customers Advertising & Marketing campaigns are mainly focussed on Webinars.

If you wish to promote a Webinar we recommend at least a 2 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://www.itwire.com/itwire-update.html and Promotional News & Editorial.

For covid-19 assistance we have extended terms, a Webinar Business Booster Pack and other supportive programs.

We look forward to discussing your campaign goals with you. Please click the button below.

MORE INFO HERE!

BACK TO HOME PAGE
Stan Beer

 

Stan Beer co-founded iTWire in 2005. With 30 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications.

BACK TO HOME PAGE

WEBINARS ONLINE & DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research & Case Studies

Channel News

Comments