SINGAPORE, 17 FEBRUARY 2009 The top ten leading vendors cornered a 39 per cent share in the US$4.8 billion Indian IT services market in 2008.
The data has been unearthed by IT market research firm, Springboard Research. The top three players, IBM (10.8 per cent of market share), Wipro (8.7 per cent) and TCS (6.1 per cent), took up a quarter share of the market, while the top ten ranking had many players with near 1 per cent market share, the company revealed in its latest research report titled India IT Services Competing for Tomorrow's Market'.
Wipro showed highest growth
In terms of growth, Wipro led the established Services vendors with an over 43 per cent growth in 2008 over the previous year, the report highlighted. Satyam and HCL Infosystems registered second and third highest growth rates respectively, both growing well above the overall market growth rate of 18.6 per cent.
The overall market showed clear preference for vendors with end-to-end services portfolio, execution capabilities and the ability to combine software, hardware and consultancy, said Sudip Saha, research analyst for IT services at Springboard Research. Big multinational players leveraged their ability to invest to corner a major chunk of the infrastructure outsourcing market, while large Indian vendors proved their mettle in the systems integration and application development markets, Saha added.
Springboard also said that the market in 2008 saw an overall increase in the average deal size of contracts where buyer enterprises are not only using IT vendors as technology providers but as business partners, providing them with means of competitive differentiation.
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