This IDC Presentation provides a detailed analysis of the market and competitive landscape in IT services in India from January to June 2018 (1H18). It covers the market size movements and growth trends in each of the macromarkets (i.e., project-oriented services, managed services, and support services) as well as the 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 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 15 foundation markets across 14 Asia/Pacific countries.
The IT services market in India has been heavily driven by government initiatives such as Digital India and Smart Cities Mission. Demand for IT services is rising because of widespread adoption of emerging digital technologies, such as big data and analytics, artificial intelligence (AI), internet of things (IoT), machine learning (ML), robotics process automation (RPA), augmented reality (AR), virtual reality (VR), and blockchain.
More local organizations are training and reskilling their workforce to be able to competently handle these emerging digital technologies because of the influx of digital transformation projects as there is a lack of relevant skill set among existing employees in these organizations to adapt to a digitalized environment. In addition, leading IT SPs in India are looking to provide in-house training and learning courses to existing employees as it is more cost-effective for organizations to reskill their workforce than to hire new employees.
The banking, financial services, and insurance (BFSI) and government sector are the major drivers of IT services spending in the country, followed by the manufacturing and retail industries. Mobile payments, online banking, ewallets, and the growing trend of digital branches among banks in India were the major drivers of IT services growth this cycle.
The demand for managed security services is on the rise as the incidence of cyberattacks and malware infection has increased among Indian enterprises during recent times with the advent of digital transformation initiatives and the lack of skilled cybersecurity professionals. This is affecting business productivity and is leading to loss of sensitive data. In the context of the government’s Digital India initiative, there will be an increasing amount of data that will be stored digitally, and the number of digital transactions will increase exponentially. This, combined with lack of knowledge on specialized and customized industry-specific cybersecurity measures, will make India a prime target for cybercriminals and hackers. Consequently, local enterprises are increasing their IT spend on cybersecurity as a preventive measure against cyberattacks.
Application development services, Application management, Hosted application management, Hosting infrastructure services, IT consulting services, IT education and training, IT maintenance and support, Network and desktop outsourcing services, Systems integration services