According to the '2010-2014 Korea IT Service Market Outlook Report' by IDC Korea, which is an IT market analysis and consulting firm, the IT service market in Korea will make a gradual recovery and expand its broad based growth in the second quarter. Last year, the domestic IT service market showed a sharp downturn in the recession.

 

Thanks to the base effect of last year and recovering demand, the growth rate is expected to be recorded at 4.1 percent over the previous year. Especially, the new business areas such as the convergence of solutions and the cloud model and the market participants' efforts to seek new business are expected to accelerate. And Integrated Systems and Consulting will record 4.5 percent growth compared to the previous year and also the outsourcing sector is forecasted at 4.7 percent growth on last year.

An official from IDC Korea said, "traditional IT services market downward stabilizing will be continued.  IT service providers would more focus on finding the new market demands and service models." And "The market will try to capture a total convergence solution which is the combination of IT and network and services capabilities and at the same time, a private market-based cloud environmental implementation is expected to spread and the effort to find new revenue models in the market would intensify."

 

SOURCE: IDC Korea