FRAMINGHAM, Mass.--(BUSINESS WIRE)--A newly published forecast from International Data Corporation (IDC) shows that the trend of strong market growth in digital strategy and agency services will continue through 2021.
The strong growth rates in spending are attributed to the degree of maturity in Digital Transformation (DX) strategies as executives carefully consider and plan for the impact of digital innovation on everything from enterprise business goals to products and service innovation, business processes, organizational structures, and the workforce.
As DX becomes completely foundational to future business, the proportion of digital-related consulting engagements will increase from about half of all business and information technology (IT) consulting engagements in 2013–2015 to approximately 70% of all engagements in 2020 or 2021, driving the total market for digital strategy and agency services to well over $100 billion in services opportunities worldwide by 2021.
In IDC's most recent survey of digital enterprise leadership worldwide, the vast majority of executives say consulting partners in the professional services market are not just important, but critical to Digital Transformation success.
"Over a quarter of digital executives say budgets for digital consulting and agency services partners will increase by 25% over the next one to two years, and about 10% say budgets for these services will double by 2019. And, as more firms adopt enterprise-wide digital strategies, executives should expect their relationships with professional services providers to embody a larger portfolio of digital capabilities," said Michael Versace, research director, Digital Strategy and Agency Services at IDC.
The study, Worldwide and US Digital Strategy and Agency Services Forecast, 2017-2021 (Doc #US42796517), provides a forecast of digital strategy services through an analysis of the worldwide and U.S. business consulting, IT consulting, custom applications design, risk advisory, and digital agency markets.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data, and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.