Monday 15 August 2022

*NEW RESEARCH* SITS market: What happens after the boom?

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. But as we continue to live through uncertain times, what is likely to happen to market opportunities this year and beyond? teas

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 against 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 we do not expect this rate of growth to be matched in 2022, we are predicting a consistently strong SITS market through to the end of our forecast period in 2025. Our latest Market Trends & Forecasts 2022 explains why and describes in depth the trends that are driving market behaviours.

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.”

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.

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 NOT to 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 '09:45' - Tagged: trends   forecasts   market+trends