Global IT services and business services revenues are expected to cross the US$1 trillion mark for the first time in 2018, according to IDC.

Worldwide services spending totals for 2016 are expected to stay within the US$900 billion range and by 2020 expected to near US$1.1 trillion.

With more than US$100 million worth of spending each this year, the largest services markets will be key horizontal business process outsourcing (BPO) and systems integration services, which will also generate the largest revenue pools over the 2016-2020 forecast period. Business Consulting Services is forecast to outpace both markets in terms of growth.