Total cloud market in India, now at $400 million, is expected to reach a market value of $4.5 billion by 2015.
The demand for cost control will force research and development (R&D) centres in India to put a check on salary escalations for the next couple of years, a report by Zinnov Management Consulting, a leading management consulting firm, says.
IT major Wipro on Monday said it has been ranked as a leader in the global R&D service provider survey by Zinnov Management Consulting for the fourth successive year.
'The immediate impact would be delayed payments, followed by slowly ramping down of existing projects while retaining only the ones that are mission critical,' said Karthik Ananth of Zinnov Management. 'In the long run, it would have a trickle down effect on tier one and tier two suppliers for auto majors. They will indeed see an impact on their business, which in turn will impact the business of Indian service providers, who work with them and have them as key accounts.'
The 'Public Cloud Opportunity in India' study released on Thursday highlighted that the public cloud market comprises 20-22 per cent of the share, while the remaining 78-80 per cent is accounted for by private cloud.
Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.
India is faced with a shortage of product managers and technical architects. Software product development companies are looking at expatriates to fill the void.
India ranks lower than most BRICS nations in terms of innovation.
Automotive, healthcare, industrial verticals drive captive centre growth in India, says Zinnov report
The average salaries for the engineering positions across product development companies in India have come down by 3 per cent. Bangalore continues to be the highest in its pay scale followed by Chennai, Pune and NCR, says Compensation and Benefit Study 2008 Report by Zinnov - a management consulting firm. The reason for the dip is the increased hiring at the junior-level.
Global capability centres (GCCs) are increasingly looking to tap into revenue opportunities from the Indian market, which is already a critical talent hub. While capturing the potential of the Indian market has been in the works over the past few years, it's only of late that companies are gaining momentum. India is home to more than 1,580 GCCs, with a total market size of $46 billion and growing at a compound annual growth rate (CAGR) of 11.4 per cent, according to a Nasscom-Zinnov report.
According to the report, on the MNC R&D ecosystem titled 'attrition, hiring and salary increase 2013' India currently hosts 1,031 MNC R&D centers, growing at around 4 per cent year or year, with an overall employment base of 2,44,000 growing at about 11 per cent year on year.
The Indian startup ecosystem recently celebrated the 100th unicorn milestone. It came after a month of no big fund announcements. Compare this to 2021, when three to four unicorns were being added every month. Nevertheless, the 100th unicorn needs to be celebrated since the first unicorn was announced in 2011 - 11 years ago.
US firms are seeking Indian engineers to work on technologies similar to their global counterparts
Persistent, L&T Technology and TechM named among leading service providers
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
India has emerged as a favoured location for captive technology units of Walmart, Lowes and Daimler.
As 8 new startups join the 2018 club, average time taken to be a $1 billion firm now stands at 5-7 years, next only to China, says a Nasscom report
Global IT firms seeing dearth of talent in countries such as US, looking for people with such skills from countries like India
The industry employs about 10 million workforce.
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