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Global IT Services Income Grew 11% in 2007
By
ChannelTimes Staff
Mumbai, May 15, 2008
Gartner finds that the IT services revenue totaled $748 billion in 2007, worldwide. A 10.5% increase as compared to the revenue ($677) in 2006.
Kathryn Hale, research vice president of Gartner says, "This strong growth, combined with strong first quarter results for market leaders, runs counter to the gloomy and widespread economic concerns arising in the United States."
He adds, "Many providers are successfully selling buyer value propositions - that external spending on IT services, and solutions can help customers save money and be more productive, even in a profoundly uncertain economic climate."
The research firm also states that, the Indian domestic IT service market grew 18% in 2007 (in Indian Rupee terms) - clearly outperforming overall Asia/Pacific IT services growth rate.
According to Arup Roy, senior research analyst of Gartner, "While cost remains a key consideration for users in the outsourcing services market in India, operational efficiency and business agility is driving most of the IT Services engagements".
The company even states that across all the IT services, IBM continued to be the worldwide market leader, with 7.2% of the market. IBM and Accenture delivered strong growth rates, 12.2% and 19.7% respectively, and were the only companies in the top 6 that experienced revenue growth rates above the overall market average.
While global sourcing makes the location of a provider's headquarters increasingly less relevant, Gartner claims that it tracks this information for more than 360 vendors, who collectively account for more than 70% of end-user spending worldwide. While India-based vendors' IT services revenue grew 38% in 2007, these companies earned only 4.1% of revenue tracked, and U.S.-based vendors dominated the IT services market with 55.4% of that total.
Hale also comments, "To build on their success in 2007, service providers should focus on selling services that will deliver visible return in 2008, either in cost, speed to market, or business impact and should focus on growing sales in emerging markets, that enjoy faster-growing economies and high growth rates in IT services."
Related Links
Gartner Predicts Major Changes in IT Industry
Gartner Reports PC Sales Surge for Q3 in India
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