Worldwide information technology services revenue is projected to reach $554 billion in 2001, a 7.1 percent increase over 2000 revenue of $517 billion, according to Dataquest Inc., a unit of Gartner, Inc. The industry is forecast to continue growing through 2005, when IT services revenue will reach $865 billion.

While poor economic conditions and the impact of heightened terrorism are expected to dampen growth to single digits through 2002 in many segments and regions, overall demand will bounce back to double-digit growth from 2003 through 2005, Dataquest says.

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