India IT/ITES Industry Expected To Cross $ 110 Billion By 2013
Added 22nd Jun 2009Indian IT/ITeS industry is expected to grow at 13.9 percent (CAGR 2008-13) to touch over $ 110 billion (Rs. 534,479 crore) in 2013; with the domestic market growing at a slightly higher 15.8 percent (CAGR 2008-13) to report revenues of Rs. 2,06,398 crore as against export revenues of Rs. 3,28,081 crore, a growth of 12.7 percent (CAGR 2008-13), according to IT advisory firm IDC estimates
These projections were made by IDC India on the occasion of the launch of their annual briefing session for the ICT industry, Directions.
"Though there are certain signs of a revival happening in the domestic arena, the spending may not begin to increase just yet. IT spending behaviour would remain conservative throughout 2009 due to uncertainty in the economic environment. The hardware market will remain under pressure through the year, while the software and IT services markets will also be affected, though to a comparatively lesser extent", IDC
India Country Manager Kapil Dev Singh said.
'New Age' Services and Solutions Set to Emerge in 2009-10 and Beyond "The share of IT Services and IT-enabled Services (ITeS) in the India domestic market is expected to rise from 31.7 percent in 2008 to 41.9 percent in 2013, signalling the increasing focus of enterprises to 'leverage' the capacities built-up," added Mr. Singh.
The domestic IT and ITeS market growth projection for the period 2008-13 is expected to moderate to 15.8 percent, as against the average annual growth of 25 percent recorded during 2003-08. This signals the onset of a new phase of growth, Growth Phase 2.0. This phase of growth will see IT vendors helping enterprises design and deliver 'new age'
services to their customers by leveraging the existing IT infrastructure.
