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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era
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To: porcupine --''''> who wrote (947)11/9/1998 9:33:00 PM
From: porcupine --''''>   of 1722
 
European IT services set for rapid growth

CANNES, France, Nov 4 (Reuters) - The business of providing
information technology (IT) services is set to grow 14 percent a
year in Europe to create a market worth $164 billion by the end
of 2001, a conference was told on Wednesday.
Dataquest analyst Ben Pring said the increase will be
stimulated by companies seeking fixes for the millennium
computer bug.
But conversely, money for new IT projects like electronic
commerce will be sucked away next year as companies concentrate
resources on purging the bug, Pring said.
"Dataquest estimates that the European market for IT
services will be worth more than $164 billion out of a global
total of $622 billion by the end of 2001, having grown at a
compound annual rate of 14 percent from 1997 to 2002," Pring
said.
The IT business includes provision of systems integration
and consulting.
According to technology consultants Richard Holway Ltd of
London, major players in the European IT services market include
International Business Machines Corp , Electronic Data
Systems Corp , Cap Gemini and Andersen
Consulting.
Pring was addressing the Gartner Group's annual European
Symposium/ITxpo98, Dataquest is a Gartner subsidiary.
((Neil Winton 44 171 542 7975 neil@jinks.demon.co.uk))
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