While the European IT services market is expected to grow at a compound annual growth rate of 5.8 per cent from $217 billion in 2006 to $287 billion in 2010, the market for offshore IT services is expected to grow at a CAGR of 60 per cent through 2009 as compared to 35 per cent of the US market, presenting a huge opportunity to Indian IT services companies.
However, the report point out that barring a few, most Indian IT services companies have concentrated on the UK market than be present in Continental Europe -- a market with a combined size of $108 billion (Germany $37.2 billion, France $26.4 billion, Nordics $18.5 billion, Italy $14.6 billion and Spain $10.4 billion).
Indian ICT spend to top $36 bn: Gartner
Backed by rising expectations from businesses for IT to play a larger role in growth, efficiency and competitive advantage, information and communications technology spending in India is growing at a five-year compounded annual growth rate of 14.8 per cent, the highest in the Asia-Pacific region, to exceed $36 billion by 2009.
The
increase in verticals such as communications, finance and banking and services industries are driving the India market. With competition and Indian companies going global, the Indian CIO's role has evolved and their priorities are similar to those of global CIOs, according to a recent Gartner survey. Gartner's India two-day CIO Summit will be held in Mumbai on February 20.
Asia-Pacific outsourcing mart grows 43%: TPI
The Asia-Pacific outsourcing market registered significant growth in 2006, according to outsourcing advisory firm TPI. The number of deals signed in the region, valued at over $25 million (little over Rs 110 crore or Rs 1.1 billion), saw an increase of 43 per cent and total value of the contracts rose 67 per cent, hitting a five-year high in outsourcing activity.
Semiconductor mart to touch $36 bn
India's electronic equipment consumption is expected to touch $363 billion by 2015 from $28.2 billion in 2005 -- a compound annual growth rate of 30 per cent. Of this, the market for the semiconductor industry would be about $36.3 billion, M M Pallam Raju, minister of state for defence, said. The minister said this growth outlook represented a huge manufacturing potential for the electronic manufacturing companies.
