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Consulting services market to touch $ 28.5 bn

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CIOL Bureau
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BANGALORE: In 2002, the consulting services market is headed

for growth and change. The market is expected to grow with the 2000-2005 CAGR of

13.81 per cent and to reach $ 28.5 billion by 2005. The changes expected to

occur in 2002 will require consulting vendors to re-evaluate their strategies,

business models, and the ways in which they conduct their business. This was

published by a report titled, US and Worldwide Consulting Services Market

Forecast and Analysis, 2001-2005 by IDC.

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A major change IDC has identified for 2002 is a blurring the

distinction between business and IT consulting services. One reason for this

change is the increase in the size and complexity of the nature of IT projects.

"Companies can no longer look at an eBusiness initiative as a sole effort.

They need to be put in the context of the firm’s overall business issues,

challenges, goals, and capabilities," reports, IDC’s consulting services

program manager, Anna Danilenko.

"Another reason is because the eBusiness rush is over.

Because of the dot-com meltdown, larger companies don’t feel threatened by

emerging innovative players and they don’t have to rush into new eBusiness

initiatives any longer," says Danilenko.

A new study from IDC’s Consulting Services program gives

the top 10 predictions for the consulting services market in 2002. It is sub

titled as recommendations for consulting vendors on how to address the market

changes, the analysis of the reasons for change in the consulting space, market

outlook and Business and IT consulting markets forecasts.

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