The embryonic web services market is set to undergo significant expansion over the next five years, according to a new study from technology analysts IDC.
The report, Western European Web Services Market Analysis, 2002-2007 details the forecast for spending on hardware, software and services used to implement web services projects in each of seven industries and three enterprise size classes.
Web services are still in the preliminary stages of consumer adoption but have considerable long term potential, a fact acknowledged by the majority of European companies (see European Firms To Increase Investment Of Web Services).
IDC estimates that the web services market will grow from â‚Ź94 million in 2002 to â‚Ź6.8 billion in 2007, a compound annual growth rate (CAGR) of 135%.
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