By using this site, you agree to the IDC Privacy Policy

Jun 2018 - Market Presentation - Doc # AP43941118

2H17 Country Report on IT Services — India

By: Jaimadhav Senapati

On-line Presentation

Abstract

This IDC Presentation provides a detailed analysis of the market and competitive landscape in IT services in India from July to December 2017 (2H17). It covers the market size movements and growth trends in each of the macromarkets (i.e., project-oriented, outsourcing, and support and training services) as well as key industries, such as finance, manufacturing and resources, public sector, distribution and services, and infrastructure. The report also provides a market and vendor analysis of 3rd Platform technologies as the key market drivers. The competitive analysis section includes key strategies and activities of large global and local IT services providers in the market.

The data and insights within this presentation are a part of the "Asia/Pacific Semiannual Services Tracker" research, which covers 14 foundation markets across 14 Asia/Pacific countries.

The overall IT services market in India for 2H17 stood at US$4.79 billion, an increase of around 13.5% from the previous year, driven by a stronger economic performance and the government’s efforts in promoting various digital initiatives in the country.

The demand for security services is on the rise as enterprises are aware of the increasing number of cyberattacks and malware affecting business productivity and loss of sensitive data. The push for a digital India poses a potential threat with the increasing number of cyberattacks. Enterprises should be willing to increase their IT budget spend on cybersecurity to minimize such incidents. According to the National Association of Software and Services Companies (NASSCOM), the country is struggling to bridge the gap between demand for cybersecurity professionals and the talent pool available, with a shortfall of hundreds of thousands of skilled professionals. The industry body has developed plans to create a pool of half a million security professionals in line with the country’s cybersecurity policy.

The demand for digital services is rising exponentially, and there is a need for companies to build their capabilities. There is an increasing demand for migrating work to the cloud or building quick solutions to meet customers' needs. Emerging technologies, such as artificial intelligence (AI), internet of things (IoT), and blockchain, have a huge potential in changing the way businesses operate today.

Organizations should also relook at training and reskilling its workforce so that employees are well equipped with future-ready skill sets, such as complex problem solving, critical thinking, and creativity, for the digital economy.

The banking and financial services, government, and manufacturing sectors continued to grow at a faster rate in 2H17. Mobile payments, online banking, and the effect of demonetization are a few factors that has hastened the adoption of digital technology in India’s financial sector.


Coverage

Content
  • 27 slides


Related Links