The market for IT services is enjoying steady growth, driven by strong demand for outsourcing and helped by a weakening dollar, according to analyst group Gartner, which conducted the research.
Generating revenues of $607.8 billion worldwide, the IT services industry grew by 6.7% in 2004, although two thirds of that growth was due to currency fluctuations that favoured the US-dominated sector.
The position of those top three vendors remains unchanged since 2003. IBM continues to be at the forefront of sector, with a 7.6% share of the global market and $46.4 million in services revenues. Behind it lie Electronic Data Systems (EDS) and Fujitsu.
Outsourcing was the growth driver for IBM and Hewlett-Packard (HP), but while Fujitsu's outsourcing business grew in the Europe, Middle East and Africa (EMEA) region, the gains were offset by the weak economic recovery in Japan, as well as the impact of the company's restructuring efforts. And Computer Science Corporation (CSC) looked comparatively weak because of a smaller presence outside the US than its rivals. But the strongest growth among the top six players was shown by Accenture where revenue increased by 16.4% to $14.1 billion, fuelled by a healthy rise in both the company's outsourcing and consulting businesses.