IBM generated over 62 billion U.S. dollars in revenue in 2024, an increase of around 1 billion U.S. dollars on the previous year. The firm's yearly revenue has trended downward over the past decade, having previously exceeded the 100 billion U.S. dollar mark. Despite this, the firm remains one of the most valuable technology brands in the world behind the likes of Apple ,Google, Amazon, and Microsoft. IBM’s response to a shifting marketA tech giant since the nineties, IBM has faced struggles adjusting to changes in the marketplace. Recently the company has focused on what it terms “strategic imperatives”: getting rid of low-margin businesses and investing in high-margin businesses. At the end of 2018, for example, IBM sold IBM WebSphere Commerce to HCL Technologies for 1.8 billion U.S. dollars. IBM is still very profitable, although not at the level as between 2006 and 2012. Reflecting the changing demands of digital transformation, the largest source of IBM’s revenue for fiscal year 2020 now comes from its technology services and cloud platforms business segment, which specializes in helping organizations integrate their traditional infrastructure into a multicloud environment.

This statistic shows the revenue generated by IBM from the global sales of big data hardware, software and professional services from 2015 to 2017. In 2017, IBM generated revenues of about *** billion U.S. dollars from the sales of big data services.

The statistic depicts the revenue IBM generated through security software worldwide from 2009 to 2015. In 2012, IBM's revenue from security software was at **** billion U.S. dollars.

This statistic shows the revenue of IBM from the public cloud market, from the first half of 2014 to the first half of 2015. In the first half of 2015, IBM generated *** billion U.S. dollars of revenue from the public cloud market.

The statistic shows IBM's storage hardware and software revenue from 2015 to 2017. In 2017, IBM's storage hardware revenue reached **** billion U.S. dollars.

In 2022, IBM's revenue from High Performance Computing (HPC) servers amounted to *** million U.S. dollars, an increase of over ** million U.S. dollars compared to the previous year. The company's HPC revenue consistently produced billions of U.S. dollars in revenue until 2015, when the company reported some *** billion U.S. dollars in revenue from HPC servers. The drop in IBM’s revenue from this segment between 2014 and 2015 could be attributed to the company’s decision to stop the production of System x's line of x86 servers and sell the business to Lenovo.

IBM achieved a net income of 6 billion U.S. dollars in 2024, a slight decrease from the 7.5 billion U.S. dollars recorded in 2023. After experiencing a steady increase in net income over roughly a decade up to 2013, the company’s income over the past eight years has trended downward. Some of this can be attributed to a quickly evolving market environment. IBM is transforming its business amid industry-wide digital transformation, shifting away from being a hardware, software, and services company, towards becoming a cognitive solutions and cloud platform company. In 2016, IBM changed its segment reporting to reflect this shift, and realigned its software portfolio. Adjusting to the era of cloud computingIBM is now focusing on hybrid and multi-cloud, as well as artificial intelligence (AI) to better align its portfolio to market demands, emphasizing strong integration between the two subjects. This combination is exemplified by IBM’s 34 billion U.S. dollar acquisition of AI open-source software company Red Hat that was completed in mid-2019. Other significant acquisitions include the data analytics and management services company Truven Health Analytics, and cloud object storage system company Cleversafe. IBM is aggressively expanding into cloud computing and data analytics, though it faces strong competition with cloud providers Alphabet and Amazon.

Business intelligence and analytics software publishers' revenue is expected to swell at a compound annual rate of 1.7% over the five years through 2025-26 to reach £964.5 million. Strong growth has been fuelled by rising business software investment, IT and telecommunications adoption, advances in computing technology and the digitalisation of business processes. This has driven the advent of big data, providing new data sets which can interface with business analytics software. Many software products, including customer relationship management and enterprise resource planning systems, have become basic tools for managing large companies. The largest publishers have pursued acquisition activity to take control of cloud companies and data analytics businesses. These industry giants are generally selective with acquisitions, embracing the switch to software as a service and adopting the low-cost cloud model. Leading BI suites, LIKE Tableau, SAP Analytics Cloud, Qlik Sense and IBM’s Cognos Analytics, have all transformed to provide real-time KPI dashboards and robust remote management capabilities, supporting decentralised operations. Intensified merger and acquisition activity, particularly by SAP, has allowed major software publishers to rapidly enhance product ecosystems with niche digital adoption and enterprise architecture tools, further cementing their dominance and spurring innovation. As remote work became the new norm and businesses faced the necessity of managing expansive data sets efficiently, they turned to analytics software. Despite fiscal stresses, companies continued investing in software subscriptions, recognising the indispensable use of applications in a remote work environment. As such, subscriptions and sales of cloud-based software witnessed noticeable growth. Revenue is forecast to climb by 1.7% in 2025-26, with profit also expected to edge up as demand remains strong. Over the five years through 2030-31, revenue is expected to climb at a compound annual rate of 3% to reach £1.1 billion. Heightened adoption of industry-specific software among small and medium-size enterprises (SMEs) is projected to fuel growth. Ongoing e-commerce expansion, which has seen the online share of retail sales climb steadily, will keep demand for BI and analytics tools rising as retailers and supply chains seek deeper insights into customer behaviour and operational efficiencies. Cloud adoption will remain central, with hybrid and distributed models expected to persist, yet competition from cloud infrastructure giants like Amazon Web Services is likely to intensify. Investment in artificial intelligence and machine learning is anticipated to accelerate, with publishers needing to embed AI-driven analytics and automation to stay competitive, bolstered by the UK’s substantial public and private AI investment. However, talent shortages and heightened corporation tax could dampen growth, particularly for smaller publishers struggling to absorb higher costs or secure skilled staff. The industry's resilience will hinge on strategic upskilling, smart automation and continued innovation, ensuring UK BI and analytics software remains at the forefront of enterprise digital transformation.

For the fiscal year 2024, Dell Technologies generated about 33.89 billion U.S. dollars from its Infrastructure Solutions Group (ISG), with a further 48.92 billion U.S. dollars generated by the Client Solutions Group (CSG). Dell is a multinational IT company based in Texas, United States. It produces desktop PCs, notebooks, tablets, peripherals, storage solutions, virtualization, cloud services, and infrastructure. Dell’s business model The CSG business segment includes branded hardware such as desktops and notebooks, as well as peripherals like monitors and projectors. The ISG, or Dell EMC, incorporates the company’s various activities in the storage, server, converged systems, and cloud solutions market and has utilized the expertise EMC has had across these fields. Previously, VMware was also reported as a segment, although Dell Technologies completed the spin-off of VMware in November 2021. VMware As the first company to successfully commercialize the virtualization of the x86 microprocessor architecture, VMware is a market leader in the virtualization market, offering application software solutions that can run independently from the underlying hardware. VMware‘s virtualization technology is widely adopted in the cloud computing space, with providers such as Amazon, Microsoft, and IBM having partnerships with VMware.

IBM East Europe/Asia Ltd., which represents IBM in Russia, earned around ** million Russian rubles in 2023, having significantly decreased its revenue from the previous year. Over the observed period, the highest revenue of the company in Russia was recorded at approximately **** billion Russian rubles in 2015.

For the fiscal year 2024, Dell Technologies generated about 33.89 billion U.S. dollars from its Infrastructure Solutions Group (ISG), with a further 48.92 billion U.S. dollars generated by the Client Solutions Group (CSG). Dell is a multinational IT company based in Texas, United States. It produces desktop PCs, notebooks, tablets, peripherals, storage solutions, virtualization, cloud services, and infrastructure. Dell’s business model The CSG business segment includes branded hardware such as desktops and notebooks, as well as peripherals like monitors and projectors. The ISG, or Dell EMC, incorporates the company’s various activities in the storage, server, converged systems, and cloud solutions market and has utilized the expertise EMC has had across these fields. Previously, VMware was also reported as a segment, although Dell Technologies completed the spin-off of VMware in November 2021. VMware As the first company to successfully commercialize the virtualization of the x86 microprocessor architecture, VMware is a market leader in the virtualization market, offering application software solutions that can run independently from the underlying hardware. VMware‘s virtualization technology is widely adopted in the cloud computing space, with providers such as Amazon, Microsoft, and IBM having partnerships with VMware.

As businesses have pivoted to hybrid and remote models, demand for scalable, secure cloud environments and reliable hosting infrastructure has surged. Global technology giants like Microsoft, Amazon Web Services (AWS) and IBM have expanded their Irish operations, buoyed by favourable tax incentives and proactive government support from agencies like IDA Ireland. This influx of international investment and a thriving e-commerce sector have made Ireland a hotspot for data centre development, underpinned by rising requirements for cloud storage, cybersecurity and real-time data processing. Over the five years through 2025, revenue is projected to swell at a compound annual rate of 1.7% to €6 billion. The industry’s growth trajectory has held firm, shaped by dramatic hikes in cloud adoption and the mainstreaming of digital collaboration platforms like Microsoft Teams and Zoom. Eurostat data indicates that the prevalence of hybrid and remote work more than doubled between 2019 and 2024, with Ireland emerging as an EU leader in flexible working arrangements. Irish businesses have sought robust, compliant data solutions to address growing volumes and regulatory complexity, further fuelling sales of colocation, Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) offerings. E-commerce has proven a particularly potent driver, with nearly all Irish internet users making online purchases in 2024, placing heavy demands on cloud infrastructure and stimulating multi-cloud and hybrid hosting investment, particularly in high-uptime, high-bandwidth environments needed for retail and healthcare services. Revenue is estimated to jump 1.5% in 2025. Profit margin has ticked up as strong demand among a wide range of sectors has led to higher utilisation rates of data centres. Revenue is forecast to climb at a compound annual rate of 1.5% over the five years through 2030 to €7 billion. Revenue is set to climb as businesses incorporate data technology into their operations. OECD-led tax reforms have raised the corporate tax rate to 15% for the largest multinationals but left Ireland’s competitive 12.5% rate intact for smaller enterprises, maintaining the country's allure for start-ups and SMEs. Industry titans are doubling down on local data centre expansion, with AWS and Microsoft advancing ambitious hyperscale projects to support AI-driven workloads and meet stringent EU data sovereignty requirements. The proliferation of AI across Ireland will require powerful, advanced hosting infrastructure and compliance-ready platforms, supporting growth. Sustainability initiatives, like AWS’s district heating systems and Microsoft’s backup redundancies, are positioning Ireland’s data centres at the cutting edge of resilient, green hosting. As new EU regulations come into force, providers that prioritise cloud security, regulatory compliance and sovereign cloud architectures will be best placed to harness Ireland’s continued digital growth.

The Americas region is IBM’s greatest source of revenue with over 31 billion U.S. dollars generated in the region - around 50 percent of the company’s overall revenue. IBM's global revenue declined in the decade following 2011, with the company struggling to adapt to shifting industry trends. IBM’s investments in the futureAlong with many other companies in the tech industry, IBM is in a period of transition from a legacy business in the technology sector to adapting its product offerings for a changing industry. It is regaining lost ground from prior underinvestment in cloud services and applications by purchasing and investing in innovative companies in the field, as well as refocusing its own research and development expenses on new and emerging products and technologies. In 2019, IBM acquired enterprise software company Red Hat, the world’s largest provider of open-source software solutions for 34 billion U.S. dollars. Much of IBM’s research and development is in the direction of hybrid cloud, blockchain, quantum computing, and AI, in hopes to kick start growth and reverse the trend of declining revenues. Of these, quantum computing is a promising way for IBM to be at the forefront of the world’s fastest and most powerful computing devices.

The hike in home-based and hybrid employment has reshaped the software landscape, with businesses increasingly relying on remote collaboration and productivity platforms. Tech heavyweights like Microsoft and Apple have capitalised on these changes, with Microsoft 365 and macOS-related services seeing robust uptake. Despite this, rising borrowing costs and tighter investment budgets have introduced some headwinds, moderating but not derailing the industry’s growth. Operating systems and productivity software publishers’ revenue is expected to climb at a compound annual rate of 1.5% over the five years through 2025-26 to reach £1.1 billion. The industry’s performance has been defined by a decisive migration to cloud computing and Software as a Service (SaaS) models. The number of UK SaaS businesses expanded markedly, as companies favoured subscription-based software and virtual desktops over capital-intensive, hardware-dependent solutions. Microsoft’s cloud-first strategies, especially through Azure and Microsoft 365, have cemented its market dominance, yielding recurring revenue streams and deepening its entrenchment in both the enterprise and consumer markets. Revenue is forecast to expand by 2.5% in 2025-26. Profit remains high but has dipped as publishers have shifted from one-off licence sales to lower-margin subscription models, while R&D and cloud infrastructure costs have risen. While smaller publishers have entered the market, often targeting specialised niches, competition remains moderate amid high barriers to entry and the strong network effects enjoyed by established incumbents. At the same time, legacy providers like IBM have lost ground as clients pivot away from hardware-bound operating systems toward flexible cloud and virtualised environments. Looking ahead, the industry is set for continued expansion underpinned by ongoing advancements in AI and cloud technologies. Industry revenue is forecast to rally at a compound annual rate of 4.1% over the five years through 2030-31 to reach £1.4 billion. Microsoft and Apple are expected to roll out further operating system enhancements, integrating AI-powered features, including workflow automation and generative content creation, directly into OS and productivity suites. This innovation cycle will sustain demand, particularly in enterprise environments with an appetite for advanced productivity tools and secure, managed IT infrastructures. However, talent shortages in AI, data science and software engineering are emerging as a critical challenge, prompting investment in upskilling, immigration programmes and targeted training.

The Software Development industry has made considerable progress over the past decade as companies and consumers have become reliant on electronic devices. Online access to news, social media, video and other websites, as well as automated client-relationship software and advertising software apps, are now integral components of modern life. Since all computers and peripheral equipment require integrated systems and application software, the need for development activity has surged. Major developers like Oracle, IBM and SAP have rolled out innovative solutions powered by artificial intelligence (AI), cloud computing and machine learning, driving robust revenue streams. Ireland’s attractiveness as a tech hub has been buoyed by competitive corporation tax rates, strong government support and a highly skilled workforce, bolstering revenue. Revenue is forecast to mount at a compound annual rate of 1.3% over the five years through 2025, including growth of 0.8% in 2025, to reach €68.2 billion. Business processes have evolved with the introduction of innovative technologies, helping business subscriber numbers to new technology services (like cloud computing and autonomous database management) to climb. The high price that corporate software can command has kept profit growing – in 2025, the average profit margin is slated to be 23.1%. The proliferation of Software-as-a-Service (SaaS) models and cloud adoption has fundamentally reshaped how businesses and consumers access software, relieving them of traditional hardware and maintenance costs. Looking ahead, the next five years promise sustained momentum as businesses accelerate the adoption of cloud platforms and integrate emerging technologies, especially AI. Despite the recent introduction of a 15% corporate tax rate for the largest multinational enterprises, Ireland remains competitive, particularly for start-ups and SMEs who still benefit from the 12.5% rate. The Irish government’s updated AI strategy and greater investment by tech giants like Microsoft and IBM signal a future in which automation, cloud-native applications and AI-powered development tools dominate. Demand for software developers specialising in cloud migration, microservices and AI frameworks is set to rise and the sector’s record of adaptability suggests it's well-placed to capture the expanding market for enterprise and consumer software solutions. As cloud adoption climbs and AI becomes embedded in workflows, the industry is poised for another period of robust expansion. Revenue is forecast to grow at a compound annual rate of 1.6% over the five years through 2030 to reach €73.6 billion.

Snapshot img { margin: 10px !important; } Defence Logistics Information Systems (DLIS) DLIS are sophisticated enterprise applications used to provide integrated, interoperable, and quality logistics data and solutions for defence services. These applications run on IT platforms and simply the complex defence logistics SCM process by providing efficient applications and output. They also provide strategic and operational value for decision-making purpose. Currently, DLIS service providers are improving defence logistics by introducing innovative SCM. TechNavio's analysts forecast the DLIS market in the US to grow at a CAGR of 3.56 percent over the period 2014-2019.Covered in this Report This report covers the present scenario and the growth prospects of the DLIS market in the US for the period 2015-2019. To calculate the market size, the report considers revenue generated by the DLIS service providers in the market. It also presents the vendor landscape and corresponding detailed analysis of the top four vendors in the market. TechNavio's report, DLIS Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. In addition, it discusses the major drivers that influence the growth of the market and also summarizes the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.Key Vendors • IBM • Microsoft • Oracle • SAP • Siemens PLM SoftwareOther Prominent Vendors • Booz Allen Hamilton • CGI Group • IFS Defense • Informatica • Lockheed Martin • Mincom • Miro Technologies • Northrop Grumman • SteriaMarket Driver • Increase in Defence Expenditure • For a full, detailed list, view our reportMarket Challenge • Threat of Data Security • For a full, detailed list, view our reportMarket Trend • Growing Role of Cloud Computing and SOA-based Solutions • For a full, detailed list, view our reportKey Questions Answered in this Report • What will the market size be in 2019 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors? You can request one free hour of our analyst’s time when you purchase this market report. Details are provided within the report.

Snapshot img { margin: 10px !important; } About insuranceThe insurance sector in India is expected to experience significant growth during the forecast period. However, it is moderately dependent on the recovery from recent recessions and economic crises. In addition, increased competition has pressurized insurers, challenging their investment strategy, existing business models and processes, product mixture, and operating structures. Existing business models have led to very low investment income and product margins. In order to reap greater investment benefits, investors are required to simplify their operations at a reduced cost.The increase in digitalization is expected to grow the insurance market during the forecast period. It will also help insurance companies to reach customers in an efficient manner. The growing deployment of diverse banking solutions will lead to increased demand for IT services, such as IT consulting and system integration. As IT adoption increases, it also raises challenges such as the lack of IT literacy of insurance company employees, which, in turn, has driven the IT training services market in recent years.Technavio's analysts forecast the insurance IT spending market in India to grow at a CAGR of 7.65% over the period 2014-2019.Covered in this reportThis report covers the current scenario and growth prospects of the insurance IT spending market in India for the period 2015-2019. To calculate the overall market size, the report considers the revenue generated through IT products such as hardware, software, and services by insurance firms in India. The report also presents the vendor landscape and a corresponding detailed analysis of the key leading vendors. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key emerging trends. Key vendorsHP IBM Infosys TCS WiproOther prominent vendors3i Infotech Accenture Acer Aegis Atom Technologies Capgemini India Cisco Systems CMS Infosystems CSC Dell Diebold Firstsource Solutions Genpact India HCL Technologies Hitachi iGATE Global Solutions JP Morgan L&T Infotech Microsoft MindTree Mphasis Netapp Newgen Nucleus Software Oracle Polaris Ramco Systems SAP Serco Global Services Syntel Tally Tech Mahindra WNS Global Services Wolters KluwerKey market driverIncreased need to manage IT risks and service solutions For a full, detailed list, view our reportKey market challengeRequirement of high investment For a full, detailed list, view our reportKey market trendSocial media as a marketing and collaboration medium For a full, detailed list, view our reportKey questions answered in this reportWhat will the market size be in 2019 and what will the growth rate be? What are the key market trends? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the key vendors? What are the strengths and weaknesses of the key vendors?

The Software Publishing industry in Canada has exhibited strong growth amid the introduction of new products, primarily within the enterprise services and data analytics domains. Rising consumer spending has boosted demand from both businesses and individuals. Technological advancements in cloud and AI technology have necessitated wide software varieties, leading to new business models and solutions. Over the five years to 2025, industry revenue has grown at a CAGR of 4.8% to reach $23.2 billion in 2025. In 2025, software publishing revenue in Canada is poised to inch forward by 2.8% in 2025, while high competition and short product lifecycles constrain profit growth. As the industry has become more competitive, larger software publishers have continued to purchase smaller companies with specialties in growing software niches. Companies like IBM and Microsoft Corporation have been aggressive in acquiring the latest AI technology to expand their market share within the Canadian market, while Constellation Software has operated as a smaller, yet significant driver in industry revenue growth. Despite regulations pressuring compliance, favorable demand conditions and emerging technology has led to industry revenue growth. Future corporate profit and consumer spending growth will benefit demand and lead to industry revenue expansion, which is forecast to hike an annualized 2.7% to $26.6 billion in 2030. As revenue rises, industry profit is poised to remain steady despite intensifying competition and greater demand for skilled employees. Software publishers will continue to shift their development operations, leveraging AI and also incorporating these emerging tools into their products. The Canadian market will increasingly begin to embrace AI tools, which will increase software publishing competition significantly. To achieve differentiation, publishers will need to invest in interoperability features to ensure seamless adoption for downstream markets. With many publishers also investing in expanding their reach in previously untapped sectors in Canada, industry revenue will grow over the next five years.

Snapshot img { margin: 10px !important; } About Virtualization and Cloud Management SoftwareVirtualization is a process that simulates both software and hardware on a computer using cloud to enable users to receive resources as a service over the Internet. Cloud computing involves the conversion of specific machines to a virtual image on a server within the cloud. Cloud virtualization software acts as an intermediary between cloud-based services and end-user systems. It helps in reducing operational costs and increasing efficiency of the entire network interface. Cloud virtualization solutions are not centralized and remain unaffected by natural calamities or power failures. However, this can lead to problems related to data security and privacy.Technavio's analysts forecast the global virtualization and cloud management software market to grow at a CAGR of 14.81% over the period 2014-2019.Covered in this ReportThis report covers the present scenario and the growth prospects of the global virtualization and cloud management software market for the period 2015-2019. To calculate the market size, it considers revenue generated from the following:• Software licenses and subscriptions• Software implementation costs• Technical support• Maintenance cost and professional servicesThe report also presents the vendor landscape and a corresponding detailed analysis of the five leading vendors in the market. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.Key Regions• Americas• APAC• EMEAKey Vendors• Amazon Web Services• Citrix Systems• Microsoft• Red Hat• VMwareOther Prominent Vendors• Google• Hewlett-Packard• IBM• Oracle• Parallels• Proxmox• SAP Market Driver• Need to Reduce IT Infrastructure CAPEX and OPEX• For a full, detailed list, view our reportMarket Challenge• Growing Complexity of Virtualized Infrastructure • For a full, detailed list, view our reportMarket Trend• Increased Adoption of Green Cloud Computing• For a full, detailed list, view our reportKey Questions Answered in this Report• What will the market size be in 2019 and what will the growth rate be?• What are the key market trends?• What is driving this market?• What are the challenges to market growth?• Who are the key vendors in this market space?• What are the market opportunities and threats faced by the key vendors?• What are the strengths and weaknesses of the key vendors?

Businesses outsource the procurement of assets to companies in the procurement outsourcing services industry, which helps businesses focus on their primary business activities, increasing efficiency and profit. The main markets for procurement outsourcing service providers include manufacturers, retailers and food processors. Government contracts are also a significant and consistent source of revenue for procurement outsourcing firms. Over the five years through 2024-25, the procurement outsourcing service industry is expected to contract at a compound annual rate of 3.6% to £1.6 billion, including growth of 0.8% in 2024-25. Economic uncertainty following Brexit limited UK business capital expenditure, restricting revenue prospects. The drop in revenue was restricted thanks to businesses seeking procurement outsourcing firms’ expertise in the face of trade friction. Before the COVID-19 pandemic, competition intensified as regulation changes opened the industry to smaller service providers. The COVID-19 pandemic heavily reduced activity within the private sector, particularly from the manufacturing industry, causing a drop in revenue. In contrast, the public sector expanded amid the pandemic, with larger companies securing lucrative contracts from the government for work related to the UK's COVID-19 response. Lingering business uncertainty within the UK, amid geopolitical tensions and soaring inflation, weighed on demand for procurement outsourcing services over the two years through 2023-24. In 2024-25, subsiding inflation and interest rate cuts boost business optimism and support expenditure, hiking revenue growth. Weak economic conditions and higher costs have constrained the industry’s average operating profit margin, which is estimated at 11.9% in 2024-25. Over the five years through 2029-30, the procurement outsourcing service industry is forecast to expand at a compound annual rate of 1.7% to £1.7 billion. The private sector will benefit from improving economic conditions and higher business confidence, which will strengthen businesses’ ability to invest in future operations. The government market for procurement outsourcing will expand due to significant spending commitments on infrastructure and healthcare to stimulate the economy. Procurement outsourcing firms are anticipated to benefit from growing alternative markets in the media, healthcare, pharmaceutical and financial services sectors. High competition and labour shortages may weaken revenue and profit growth.