Published: 05 August 2024
In 2023, only four of the top 10 service providers grew at a faster rate than their peers. This analysis details what these outperformers had in common in 2023 and what we see as the necessary actions to outperform competitors in the services market for 2024-2025.
Overall, the services market (excluding IaaS) grew 4.5% in constant currency (CC) in 2023, down from 12.0% in 2022. Market growth in 2023 was driven largely by two segments: 9.9% growth in digital business process services and 6.7% growth in consulting.
Four of the top 10 providers grew at rates greater than the overall market, while three providers grew just at the peer-indexed growth rate. Notably, only one provider, NTT Data, improved its year-over-year growth rate, a result of its merger with NTT Ltd.
There were some notable changes in market performance among the top 10 providers, including loss
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Analysts:
Chrissy Healey, Bryan Haley, Katie Gove, Matthew Brown, Christopher Marshall, Kiyomi Yamada
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