In New Delhi: 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, predicts a latest research from Springboard.
According to the report, the Indian IT Services market is expected to be heavily dominated by infrastructure services, which are projected 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.
Applications Services with a CAGR of 19.6 percent is expected to remain the fastest growing market segment, while IT Consulting Services remains the smallest with the expected market share of 5 percent and CAGR of 16.4 percent.
The report further reveals that the highest growth over the period among infrastructure services category is of infrastructure hosting services with a CAGR of 23.4%, closely followed by enterprise IT outsourcing, Network Integration and Network Management.
In terms of market share, Banking, Financial Services & Insurance (BFSI) leads the Indian IT Services market with 21.5% , followed by the Public Sector (including Education) and Telecom Industry. However Energy & Utilities, followed by Healthcare remain the fastest growing vertical industries, the report further reveals.
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