Infosys intends to enhance its focus on cloud and digital business as it considers those areas as a huge opportunity to gain market share, Salil Parekh, Chief Executive Officer, said.

Parekh, at the company’s annual analyst day event, said that global technology services market is expected to grow 5-6 per cent in the next five years and leading that growth is digital and cloud services. The total market size of which, is expected to rise from $410-450 billion to $830-890 billion by 2027.

“We will fine tune some of that focus. We have a huge opportunity to continue to gain market share because of good capability building and, in this cycle, too, we will build some more capabilities,” Parekh said.

Demand outlook

The demand outlook is strong despite the macro-economic trends such as high inflation, supply chain issues and hike in interest rates, being prevalent. Companies are focussed on large digital transformation programmes, and will continue to do so, he noted.

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Infosys even revealed the five strategic elements it will be focussing on, for the next few years. Scaling cloud business, continuing intensity in digital, next generation seeding, focus on automation and modernisation, and people (employee) care and development, were the said elements.

Parekh also mentioned that the company is actively working on a set of levers, to make sure that along with growth, a higher margin business is also driven. Managing pyramid ratios and delivery cost, optimising onsite/offsite mix, optimising sub-contractor usage, capturing value from automation, realising operating efficiencies and value-based selling, were the margin levers that Parekh noted.

“We remain well poised to continue to gain market share, drive growth and continue to create value for all of our stakeholders,” he said.