NEW DELHI: Even as the global IT spending is in single digits, Indian IT players are clocking healthy double digit growth.
The top five India-based IT services providers grew 23.8% in 2011, compared with 7.7% growth for the global IT services markas a whole, according to analyst Gartner, Inc.
Cognizant displaced Wipro to become the third-largest Indian IT services provider, and it experienced the highest growth rate of 33.3% amongst the top five providers in 2011.
The others being India's largest IT services player, TCS, Infosys and HCL Technologies. "2011 signaled a change in the mind-set of European buyers, particularly continental Europe for offshore services," said Arup Roy, principal research analyst at Gartner.
"Indian providers have historically found it more difficult to gain market share in the western Europe IT services market than in the US market, but, as a group, the top five increased market share in the region from 2.3% in 2010 to 2.8% in 2011."
On average, the Tier 1 providers dramatically outperformed the growth rates of Tier 2 and Tier 3 providers, despite the consolidation and acquisitions among some of the smaller firms.
There were some standouts, however, with Genpact up 27% and Syntel up 21%. Smaller providers were charged with creating a more compelling marketing message that went beyond labor arbitrage.
"The top five Indian service providers have continuously chipped away market share from the large multinational corporation providers," Mr. Roy said.
"In the past five years, they have been increasingly winning large outsourcing deals with a total contract value of more than $100 million.
Their target customer segment still remains the Fortune 1000 companies, which is their 'sweet spot.'
However, in recent years, these top five providers have greatly expanded their service portfolios and have been cross selling and up selling their application services client base with offerings such as infrastructure services, business process outsourcing (BPO) services, cloud and analytics services," he added.
indiatimes.com
The top five India-based IT services providers grew 23.8% in 2011, compared with 7.7% growth for the global IT services markas a whole, according to analyst Gartner, Inc.
Cognizant displaced Wipro to become the third-largest Indian IT services provider, and it experienced the highest growth rate of 33.3% amongst the top five providers in 2011.
The others being India's largest IT services player, TCS, Infosys and HCL Technologies. "2011 signaled a change in the mind-set of European buyers, particularly continental Europe for offshore services," said Arup Roy, principal research analyst at Gartner.
"Indian providers have historically found it more difficult to gain market share in the western Europe IT services market than in the US market, but, as a group, the top five increased market share in the region from 2.3% in 2010 to 2.8% in 2011."
On average, the Tier 1 providers dramatically outperformed the growth rates of Tier 2 and Tier 3 providers, despite the consolidation and acquisitions among some of the smaller firms.
There were some standouts, however, with Genpact up 27% and Syntel up 21%. Smaller providers were charged with creating a more compelling marketing message that went beyond labor arbitrage.
"The top five Indian service providers have continuously chipped away market share from the large multinational corporation providers," Mr. Roy said.
"In the past five years, they have been increasingly winning large outsourcing deals with a total contract value of more than $100 million.
Their target customer segment still remains the Fortune 1000 companies, which is their 'sweet spot.'
However, in recent years, these top five providers have greatly expanded their service portfolios and have been cross selling and up selling their application services client base with offerings such as infrastructure services, business process outsourcing (BPO) services, cloud and analytics services," he added.
indiatimes.com
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