TECH SUPPLIER Apr 2022 - Market Perspective - Doc # US48770122

2019 Profitability in the Worldwide Services Market

By:

Sangeetika Srivastava
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Abstract

This IDC Market Perspective is an update to 2018 Profitability in the Worldwide Services Market (IDC #US43464118, July 2019). 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.

"The profitability took a slight hit in the current year mostly due to the tightening labor market conditions globally, indicating an immediate need to adopt measures such as automation to deal with growing labor expenses. Overall revenue growth remained critical to sustain growth in the upcoming years," said Sangeetika Srivastava, associate research manager, IDC's Worldwide Services program.


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