Worldwide IT services revenue totalled $806 billion in 2008, an 8.2% increase from 2007 revenue of $745 billion, according to Gartner. 

"Vendors had six to eight months of ‘business as usual' in 2008 and then approximately four months encountering the beginning of the global economic downturn, featuring widespread cost restrictions and cost reductions," said Kathryn Hale, research vice president for Gartner's worldwide IT services group. "The only two segments of the market that grew less than forecast were IT management and process management. This is particularly surprising, because in economic hard times the potential cost savings from outsourcing usually keeps this market segment buoyant. However, apparently buyer hesitation to commit to the long-term requirements of outsourcing agreements took precedence in 2008. "

Across all IT services, IBM continued to be the worldwide market leader, with 7.3% of the market. With its acquisition of EDS, HP moved into the No. 2 position, but with the difficulties of integrating the EDS business, its revenue grew only 1.9% in 2008, considerably below the overall market growth rate.