|
WEDNESDAY, Mar 26, (News Locale) - Although India remains the fastest IT Services market in Asia-Pacific region, it will face stiff competition from ASEAN, Korea and China, according to a new report by market analysts Springboard Research.
The report titled, "Asia Pacific IT Services Market and Forecast, 2006-2011," says that Indian market is poised to grow at a compounded annual growth rate (CAGR) of 18.6 percent as compared to the 10.5 percent growth predicted for the rest of the Asia-Pacific region excluding Japan.
China, India, Australia, Korea, Indonesia, Vietnam, Malaysia, the rest of ASEAN, Singapore, and the Philippines are the top 10 individual IT services markets in the region, the report said adding that the IT outsourcing market will hit $55.9 billion by 2011 from $37.5 billion in 2007.
Phil Hassey, Vice President – Services Research at Springboard Research said in a released statement that China and India have all the essential requirements that are needed to propel the ITES market forward, “The markets of interest are not just the top four – China, India, Australia and Korea – but the emerging ones like Indonesia and Vietnam, which will register significant growth going forward,” he added.
Meanwhile application hosting is one area that is predicted to register the fastest growth in the ITES sector by 2011, the report added. However enterprise application integration would still be a leading component of this market with growth pegged at $7.8 billion.
The report also said that China could not overcome India in growth opportunities in ITES simply because India had an advantage as far as governance, skills and English language were concerned.
But the report warned that India’s growth capability was not being fully harnessed because apart from leading names like Tata and Wipro most ITES-enabled companies had a "narrow capability range."
 Add as favourites (15)
Powered by AkoComment Tweaked Special Edition v.1.4.4 |
Sci/Tech 
