Business Daily from THE HINDU group of publications
Saturday, Aug 30, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Aug 30, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Outlook IT services market to hit $8 b in 2011: Study Our Bureau New Delhi, Aug. 29 The domestic IT services market is estimated to grow from $4.1 billion in 2007 to $8.1 billion in 2011, representing a compounded annual growth rate (CAGR) of 18.6 per cent during the period, according to the latest research by Springboard Research. IT services growth rate for India is well above the 10.5 per cent CAGR of overall Asia Pacific market – making the country the fastest growing IT services market in the Asia-Pacific (excluding Japan) region. According to the report, the Indian services market is heavily dominated by infrastructure services, which are estimated to garner 54 per cent of the market in 2007. Springboard expects the segment to grow in line with the overall market and reach $4.27 billion by 2011. However, Applications Services with a CAGR of 19.6 per cent remains the fastest growing market segment, while IT Consulting — typically used by vendors as entry point to reach clients in India — is estimated to grow from $0.22 billion in 2007 to $0.40 billion by 2011. “India is the epicentre of growth in Asia Pacific IT Services marketplace. 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,” Mr Sanchit Vir Gogia, Senior Research Analyst for Services at Springboard Research, said in a statement. Global IT services: Top 6 Indian cos’ market share rises to 2.4% ‘India to remain fastest growing IT services market in Asia Pacific’ ‘Domestic IT services market to grow to $10.73 b by 2011’ More Stories on : Outlook | IT-enabled Services
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