Indias IT services market set to make a leap

India's IT services market set to make a leap

A study by Springboard Research says India is the epicenter of growth in Asia Pacific IT services marketplace

Thursday, August 28, 2008

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NEW DELHI,INDIA: The IT services market in India is estimated to grow from US$4.1 billion in 2007 to US$8.1 billion in 2011, representing a compounded annual growth rate (CAGR) of 18.6 per cent from 2006 to 2011, according to the latest study by Springboard Research, an innovator in the IT market research industry.

The report, 'India IT Services Market and Forecast 2006-2011', says IT services growth rate in India is well above the 10.5 per cent CAGR of overall Asia Pacific market and it makes India the fastest growing IT Services market in the Asia Pacific (excluding Japan) region.

According to the report, the Indian IT services market is heavily dominated by infrastructure services, which are estimated to garner 54 per cent of the market in 2007. Springboard further forecasts the segment to grow in line with the overall market and reach US$4.27 billion by 2011.

However, applications services, with a CAGR of 19.6 per cent, remain the fastest growing market segment, while IT consulting is estimated to grow from US$0.22 billion in 2007 to US$0.40 billion by 2011.

"India is the epicenter of growth in Asia Pacific IT services marketplace," said Sanchit Vir Gogia, senior research analyst for services at Springboard Research.

"Not only is the India IT services market forecast to be the fastest growing in the region, the country also has a rather unique position in the worldwide outsourcing arena through a well-educated and language-proficient workforce, that sets it apart from other Asian competitors," he added.

The report showed that infrastructure application integration is the single largest category in India and is expected to contribute approximately 21 per cent of the total IT services opportunity in the country India by 2011.
©CyberMedia News

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