For the entire year, worldwide IT services revenues crossed the $1 trillion mark in 2018. Annual growth accelerated slightly to 4.3 percent. This largely reflects overall healthy corporate IT spending sustained by large enterprises’ cautious yet optimistic business outlook.
“Digital transformation is a key driver of BDA spending with executive-level initiatives resulting in deep assessments of current business practices and demands for better, faster, and more comprehensive access to data and related analytics and insights,” said Dan Vesset, group vice president at IDC.
Yes, organizations value artificial intelligence (AI) capabilities, however, they lack confidence in their team’s readiness for implementation — 53% of survey respondents say business users are unclear about what they expect. They need guidance.
Beware of the ‘digital copycat’ me-too IT vendors. “Only a thin tier of technology services vendors has the breadth of capability to help shape, execute, accelerate, and scale true digital business transformation on a global scale.”
Most major management consulting firms still posted strong earnings in 2018, although growth rates cooled slightly: business consultants still extract more value in digital transformation. However, the market is now being driven by enterprise buyers who are executing their digital growth agenda.