IT, ITeS mkt to revive in 2010, to grow 15%: IDC
The Financial Express, January 1, 2010, Page 3
fe Bureau, New Delhi
After witnessing a slowdown in demand over the last year, the domestic IT and ITeS market is expected to revive in 2010 and witness a growth rate of 15% to touch the Rs 1,20,666-crore revenue mark. According to market research firm IDC, the market is expected to grow at a rate of 5.4% in 2009 and record revenues of Rs 1,04,906 crore.
The domestic IT market (excluding domestic ITeS) is expected to register a marginal growth of 2.8%, to report revenues of Rs 95,268 crore. The domestic ITeS market is expected to grow at 40.8% to report revenues of Rs 9,638 crore.
“The changes that began last year would take concrete shape in 2010. As the economy recovers, both consumers and enterprises would demand services and solutions that allow them to do more with less. The key business concerns through 2010 will be business model innovation, improved productivity, faster return on investment and cost savings,” said IDC India country manager Kapil Dev Singh.
However, the firm expects the annual growth rate of domestic IT-ITeS market to reduce from an average 24% recorded during 2003-08 to 14.6% over the next five-years, up to 2013. This growth, though on a higher base, would see an increased competition spurring a rapidly changing strategy and continuous market realignment of vendors and suppliers.
The Financial Express, January 1, 2010, Page 3
fe Bureau, New Delhi
After witnessing a slowdown in demand over the last year, the domestic IT and ITeS market is expected to revive in 2010 and witness a growth rate of 15% to touch the Rs 1,20,666-crore revenue mark. According to market research firm IDC, the market is expected to grow at a rate of 5.4% in 2009 and record revenues of Rs 1,04,906 crore.
The domestic IT market (excluding domestic ITeS) is expected to register a marginal growth of 2.8%, to report revenues of Rs 95,268 crore. The domestic ITeS market is expected to grow at 40.8% to report revenues of Rs 9,638 crore.
“The changes that began last year would take concrete shape in 2010. As the economy recovers, both consumers and enterprises would demand services and solutions that allow them to do more with less. The key business concerns through 2010 will be business model innovation, improved productivity, faster return on investment and cost savings,” said IDC India country manager Kapil Dev Singh.
However, the firm expects the annual growth rate of domestic IT-ITeS market to reduce from an average 24% recorded during 2003-08 to 14.6% over the next five-years, up to 2013. This growth, though on a higher base, would see an increased competition spurring a rapidly changing strategy and continuous market realignment of vendors and suppliers.
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