According to "UK Software Market: Trends and Forecasts" study done by market consultancy TechMarketView, even if the UK Software and IT Services (SITS) market is anticipated to grow to £44.3 billion (eight percent) by 2016, it will still fall five percent off from growth figures posted during 2011.
However, the report found that SMEs can still get prospects from larger players regardless of the tight market.
Meanwhile, data from the supplementary study "UK SITS Company Rankings" showed that in 2012, the top 30 firms in the UK SITS market contributed £30.4 billion, which equates to four percent growth and is a result of major buyouts.
Some of the companies that topped the rankings are HP, IBM, Capita, and BT. However, TechMarketReview stated that even if HP took the lead, it decreased by five percent.
Richard Holway, TechMarketView’s Chairman, shared his sentiments that growth and success firmly depend on proper management and how processes are executed. He named renowned leaders such as Steve Jobs and Tim Cook, Bill Gates, and Steve Ballmer, as well as their influence in the market and how CSCs like Mike Lawrie change the SITS market.
The executive also noted that the economic slowdown and rapid evolution of how IT services are delivered pose a great threat even for stable SMEs.