$300b services industry by 2002

$300b services industry by 2002

The worldwide technology services market will exceed $300 billion within five years, according to a recent report from Forrester Research. The report draws on results from a survey of 50 Fortune 1000 IT executives showing 40 per cent of interviewees expected their professional services budgets to rise over the next two years.

Forrester claims that while host and client/server services currently account for 78 per cent of the overall market, by 2002, the electronic-commerce/Internet share will eclipse it, equating to 57 per cent of market share or $173 billion.

"Business and IT executives are looking for outside help to gain new technology skills, run mundane systems and develop new systems for the Internet," said Julie Meringer, author of the report.

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