Tuesday 05 July 2022

*NEW RESEARCH* SITS market reaches historic highs

TechMarketView’s new Market Trends & Forecasts 2022 report shows the UK Software and IT Services market hit growth of 9.3% in 2021 – the highest for many years.

Georgina O’Toole, Chief Analyst at TechMarketView, commented: “The geopolitical environment and macroeconomic picture have pushed digital transformation higher up the agenda of many end user organisations. Investment in tech is seen as one way for organisations to become more resilient - from investing in AI and automation to mitigate mtfagainst skills shortages, to investing in supply chain management technologies to provide better data analytics and visibility, to investing in business intelligence for improved strategic and operational planning. Last year, SITS market growth rate peaked at 9.3% as a result.

While the rate of growth will ease in 2022 from this high, TechMarketView is predicting a consistently strong SITS market through to the end of our forecast period in 2025.

For more than a decade, the TechMarketView Market Trends & Forecasts reports have guided buyers and suppliers as they navigate change, opportunity, and challenge. Such is the demand for our market data and trends analysis of the UK Software and IT Services (SITS) market, that since 2020 we have published an in-depth report in Summer followed by a Market Outlook Update in the Winter. Furthermore, with a current global backdrop characterised by such uncertainty, there has arguably never been a time when gaining market insight is so important. 

O’Toole added: “Our 2022 Research Theme – Building Resilience – has looked more and more appropriate as the year has progressed. Uncertainty has become the norm and organisations are increasingly focused on being prepared for future – high impact – events. This is driving organisations, in both the public and private sectors, to accelerate their digital transformation programmes.”

The TechMarketView Market Trends & Forecast report has been authored by our team of market experts. It covers market forecast and growth rates to 2025 and explains market trends by services type (Consulting Solutions, Operations) and across industry sectors (both Public Sector and Commercial).

Can you afford to not read it?

Clients of the TechMarketView Foundation Service research programme can access the report here: Market Trends & Forecasts 2022. If you do not have access to the Foundation Service programme, please contact Deb Seth.

Posted by HotViews Editor at '09:33' - Tagged: forecasts   growth   marketdata