TECH SUPPLIER Apr 2022 - Market Perspective - Doc # US48430322

2020 Profitability in the Worldwide Services Market

By:

Sangeetika Srivastava
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Abstract

This IDC Market Perspective is an update to 2019 Profitability in the Worldwide Services Market (IDC #US48770122, April 2022). It begins by analyzing profitability trends in the services market as a whole and then provides quantitative metrics and commentary for profitability by service line, vertical, and region. This information is geared toward readers who wish to find benchmarks to measure their own profitability when compared with the market average. However, any person who seeks to gain a better understanding of both how profitability is differently based on the type of service, vertical, or region and the factors that drive the varying levels of profitability will find this information valuable.

"2020 witnessed a slight decline in profitability, at 13.2% (operating income), for the market as a whole. Several vendors witnessed decline in revenue/sales, making it the driving factor behind their profitability decline. While decrease in travel, entertainment, and immigration costs due to COVID-19 restrictions resulted in a slight decline in "selling, general, and administrative", labor cost expenses continued to increase amid tight labor market conditions globally," said Sangeetika Srivastava, associate research manager, IDC's Worldwide Services program.


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