Global IT services market tops $600 bn

Gartner attributed the growth to weak US dollar, saying the continued decline of the currency overstated growth of IT services.

The worldwide IT services grew to $607.8 billion last year, up 6.7 per cent from $569.6 billion in 2003, reports Xinhua.

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Releasing a study on the IT services market, US high-tech market research firm Gartner attributed the growth to the weak US dollar, saying the continued decline of the dollar overstated the growth of IT services.

Gartner analysts estimate that worldwide growth was approximately 2.2 per cent in real terms.

IBM remained the world's top IT services provider, as it accounted for 7.6 per cent of global sales, while Accenture showed the strongest growth among the top six vendors, as its revenue went up 16.4 per cent.

"Outsourcing was the growth driver for IBM and HP in 2004, while Accenture experienced equivalent increases in both the outsourcing and consulting segments," said principal analyst for Gartner's worldwide IT services group, Kathryn Hale.