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During times of such uncertainty, our talented team at TechMarketView is doing all it can to support clients as they make crucial decisions. As well as providing customised research and advisory, we have recently published two major reports providing market and supplier analysis.
Clients can read UK SITS Market Trends & Forecasts 2020-2023 and its companion report, UK SITS Supplier Rankings 2020, for the definitive view of the UK Software and IT Services scene.
In such an extraordinary year, defined by the COVID-19 pandemic and global lockdowns, TechMarketview’s expert analysts have created market forecasts for the next four years based on two market scenarios.
Scenario A is based on our most optimistic view of prospects for the UK SITS market. It is founded on the presumption that the UK SITS market will suffer a relatively shallow reverse in fortunes during 2020 as a result of the pandemic, and will rebound fairly promptly thereafter, as the wider UK economy enjoys a V-shaped recovery.
Scenario B takes a far more cautious view of the prospects for future growth and is based on the UK SITS market experiencing a sharp decline during 2020. It assumes that both technology spend and the wider UK economy will remain in recession during 2021, with the UK SITS market not returning to growth until 2022. If this outcome comes to pass, by 2023 the UK SITS Market will be worth approximately £4bn less than under our more optimistic, Scenario A.
The scenarios will determine how quickly confidence will return. But regardless of the pandemic’s progression and the resultant impact on the UK economy, change is coming. In fact, it’s already here.
Alongside the Market Trends & Forecast report, clients should read UK SITS Supplier Rankings 2020, our analysis of the largest 60 suppliers in the UK SITS market. It follows detailed research into over 200 publicly quoted and privately held companies.
Holding on to its number one spot is Capita, in spite of a notable revenue decline in 2019. However, powering into second place is TCS (see The Rise and Rise of TCS), thanks to mega deal wins - many of which have been in Banking and Financial Services. The rankings reflect the changes in the market, and in particular how the long-standing suppliers are managing to balance heritage Software and IT/Business Process Services with new propositions.
To make sure you are prepared to respond, read the research:
If you are not yet a client, please contact my colleague, Deb Seth, to find out how you can gain access to this invaluable research.
And don’t forget, you can engage directly with the TechMarketView analyst team with one of our virtual engagements, customised to YOUR organisation’s needs.
Posted by Kate Hanaghan at '07:58' - Tagged: forecasts competitoranalysis
