Info-tech

HCL Tech joins Big-15 club of global IT companies with revenue of over $10 billion

TE Raja Simhan Chennai | Updated on April 14, 2021

HCL Technologies office at Noida (file photo)   -  Reuters

Tata Consultancy Services, Infosys and Cognizant are the other Indian companies present in it

For the first time HCL Technologies has entered the Big-15 club - global IT companies with revenue of over $10 billion in the managed services market - in which other Indian companies Tata Consultancy Services, Infosys and Cognizant are also present.

HCL has been promoted to the Big-15 from the Building-15 club (revenue $3 billion to $10 billion), as per the US-based technology research firm Information Services Group (ISG) data for the first quarter. The third category is the Breakthrough 15 (revenue of $1 billion to $3 billion) and the fourth category is the Booming 15 (revenue of less than $1 billion).

As-a-Service Market

In the As-a-Service Market, the companies present are Alibaba, Amazon Web Services, China Telecom, Google, Microsoft and Salesforce, according to the ISG Index, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more.

Also, data from the ISG Index, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, shows that first-quarter ACV for the combined global market (both as-a-service and managed services) reached a record $17.1 billion, up 11 per cent over last year and up 4 per cent from the fourth quarter. It was the third consecutive quarter of global growth following the pandemic-related drop in the second quarter of 2020.

As-a-service was up 15 per cent to a record $9.9 billion, on gains in IaaS and SaaS while managed services was at $7.2 billion, up 7 per cent on strength in ADM services as infrastructure drops. The deal pipeline signals continued growth, as the economy begins to emerge from pandemic, said ISG in its latest report.

Global demand for technology and business services continues to rise, reaching an all-time high in the first quarter, with a growing pipeline of deals signalling continued expansion in 2021 as the economy begins to emerge from the pandemic, the ISG said.

Data from the ISG Index shows that the first-quarter ACV for the combined global market (both as-a-service and managed services) reached a record $17.1 billion, up 11 per cent over last year and up 4 per cent from the fourth quarter. It was the third consecutive quarter of global growth following the pandemic-related drop in the second quarter of 2020.

“The demand environment has improved steadily over the past three quarters,” said Steve Hall, partner and president, ISG. “Deals are filling the pipeline as economies loosen pandemic restrictions, and enterprises continue to make digital transformation a business imperative. Providers are focused on meeting that need by concentrating on cloud modernisation, cost optimisation, and helping customers create resilient and agile operations and personalised omnichannel experiences.”

Published on April 13, 2021

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