Indian IT Booms
ndiaâ€™s IT sector, which has put India on the worldwide stage, plays an important role in the global market. The domestic IT Services market in India is estimated to grow from US $5.7B in 2008 to US $12.8B in 2013, representing a compounded annual growth rate (CAGR) of 18.6 percent from 2008 to 2013, according to the latest research from Springboard Research. The IT growth in India in the world market is primarily dominated by IT software and services, including system integration, IT consulting, application management, custom applications, infrastructure management, software testing and web-development. The Springboard Research forecasts that the Indian IT Services market will be heavily dominated by Infrastructure Services, which are expected to reach US$7.2B in 2013 reflecting a steady 53 percent market share, and a CAGR of 18.1 percent from 2008 to 2013. On the other hand, applications services with a CAGR of 19.6 percent is to remain the fastest growing market segment. It is the competitive factors such as skilled workers, adequate telecommunication networks, and an improving policy and regulatory environment in India, that have enabled both domestic and foreign firms to rapidly expand in the internationally competitive IT services sector. The Indian Governmentâ€™s national agenda is to promote growth, increase in efficiency and international competitiveness, and IT is playing a significant role in furthering this agenda. The private sector in India is not behind in strengthening Governmentâ€™s hands in this goal. All this has triggered increased IT spending by the public sector. Apart from the public sector in India, the other sectors such as healthcare, energy and utilites, transportation and logistics, are showing an increasing trend in IT spend, leading to tremendous growth of domestic Indian IT market. According to a study by Springboard Research, IT spending by the Indian public sector is expected to grow to US $5.1 billion by 2011 from existing US $3.1 billion. The report says that education is the biggest market segment with 11 per cent share of total IT spending, while defence and public safety and taxation and finance are the next three segments. The study found that hardware cornered half of the overall spending, while IT services had a bigger share than software. This second in the series of the eGov Vendor Directory, analyses the market trend and growth of the different ICT segments including hardware, software, storage, security, power solutions, networking, document management solutions, connectivity and mobility, structured cabling, video conferencing and so forth, especially in the context of India. The resource guide is an attempt to provide the government a ready reckoner on the companies providing different ICT solutions. Though, we have tried to make the listing very comprehensive, it is not an exhaustive list. However, the Directory will stride new paths in the years to go.
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October 2010 / www.egovonline.net / egov