The Indian IT services market will increase 18 per cent in revenue terms to touch $9.5 billion in 2011. India’s domestic IT services is a large emerging market in high growth mode and acquires third position, in Asia-Pacific region. The market is estimated to increase to $15 billion by the end of 2014.
India's IT services market is quite undersized as compared with large markets, but it does render a growth opportunity to the service providers because of the upbeat market conditions.
Presently, only four industry verticals add up to the majority of the market, which is 85% of all IT services spending. The industries include banking, financial services and insurance; manufacturing; telecommunications; and government. This indicates that other industry verticals provide a brilliant opportunity of growth as they start opening up and start connecting with external service providers (ESPs).
It is believed that government infrastructure projects are effectively driving IT, in union with the development of the financial services and manufacturing subsectors.
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