Indian IT services register the highest growth in APAC
According to Gartner, the Indian IT services market recorded the highest growth
of 26.7 percent in APAC for 2004-05. The Indian IT services market is projected
to grow at a CAGR of 19.8 percent through 2009.
The APAC IT services market will have a CAGR of 8.9 percent till 2009, outpacing
the global growth rate of 6.1 percent.
The research firm sees emerging markets such as India and China as the main
engines of growth across the region in the coming years. It also forecasts that
professional services led by development, integration, IT management and consulting
will be the regions strongest-performing IT services market segment.
The key drivers for increased domestic spending in India include:
- The urgency to meet regulatory compliance requirements
in the banking and financial services sector.
- The deployment of IT to improve business efficiency,
and for better competitive capabilities against global competition in domestic
and international markets.
- The large-scale IT deployment by the central and
state governments, as well as public sector enterprises, to reduce the cost
of governance, improve transparency, and make processes user-friendly.
- The improvement in infrastructure availability and
quality coupled with rapidly dropping costs.
- the rub-off effect on the Indian market of the global successes of Indian
IT services and BPO companies.