Europe’s IT services market will not ‘revive’ until 2003 and a return to the boom years of the 1990s will never happen, according to a new report by Forrester Research.
Moderate growth will take spending to Eur120 billion by 2006, up 35% when compared to 2000, says the report
“Europe’s IT services market changed course during 2001 as growth evaporated,” said Forrester senior analyst Andrew Parker. “Lingering after-shocks from the dotcom collapse blended into an economic downturn that caused many companies to slash IT services spending.”
Forrester says that Europe’s IT services market will not stay in the current recessionary cycle. The company calculates that the continent’s overall IT services market will not return to double-digit growth until 2003, and beyond 2004, the market will revert to slower growth.
