Press release -
IT services market in India to increase by 12% over the next year
The global information technology services market (IT) experienced solid growth rates over the past five years and is expected to continue this pattern, increasing at a compound annual growth rate (CAGR) of 5.3% through to 2017, to hit a market value of US$1,150 billion.
The industry experienced an average gross profit of 37% and an average net profit of 9.5% in 2011, with IBM ranking first in both measures. Key factors contributing to growth within the IT services market include the emergence of outsourcing destinations, along with the increase in adoption of cloud services.
The IT services industry comprises IT management and outsourcing services, IT consulting and integration services, as well as maintenance and support services. Asia and the Rest of the World (ROW) offer good growth potential in the IT services industry through to 2017, with China and India expected to continue to emerge as key growth markets.
The Indian IT services market is forecast to reach $10.2 billion in 2013, a 12% increase from an estimated $9.1 billion in 2012. India's IT services market offers significant opportunities for IT services providers because of the increasing needs and wants of IT buyers. As companies grow in size and scale, the market is likely to see larger IT services deals with more- sophisticated deal engagement practices.
IBM continued to be the world's number one provider of IT services last year, followed by HP and Fujitsu. IBM manufactures and markets computer hardware and software, and offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
In 2012, Fortune ranked IBM the #2 largest U.S. firm in terms of number of employees (433,362), the #4 largest in terms of market capitalization, the #9 most profitable, and the #19 largest firm in terms of revenue. Globally, the company was ranked the #31 largest in terms of revenue by Forbes for 2011.
For more information on the IT services market, see the latest research: IT Services Market
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