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.
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.