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India IT Market Set To Grow, Software Development Is Gaining Momentum
by Triumphsys on Dec 10, 2011
India is the third largest domestic market for IT services in Asia/Pacific region with local market forecast to reach $15 billion by end-2014, including software development, ranking it amongst the major emerging markets for IT services worldwide. India IT services market posted revenue of $8 billion in 2010 with industry analysts forecasting market growth of 18 percent, year-on-year, to $9.5 billion in 2011. Software development in India is gaining momentum partly due to the competitive costs offered by local software vendors and the country is rapidly transforming into a regional software development center, where numerous software developers compete on a highly fragmented market. In addition, India offers great competitive advantages to companies that want to outsource their services there or hire local software developers.
The domestic market for IT services is driven by high GDP growth in the past decade as well as government-backed infrastructure projects that...Read More >>
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