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Indian IT Services Industry Growth Slows, But Exceeds Global Average

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According to Gartner’s latest report, Indian IT services Industry growth has slowed considerably for the first time in past 5 years. Also, at a global level Cognizant ranks 3 notches about Infosys. Cognizant had overtaken Infosys last year itself in terms of revenues.

As far as the growth of the Top 5 Indian IT services company goes, they grew by 13.3 percent to reach USD 34.3 billion in 2012, exceeding the IT services industry growth of 2 percent. In previous year, the same growth was pegged at 21.8 percent.

Top 5 Indian IT Services Company Rankings

TCS retained its rank of 16 at global level and was the highest ranked Indian company. While Cognizant gained 5 places  – From 28th in 2011 to 23rd in 2012 – Infosys dropped one place from 26th to 27th.

HCL Technologies also showed good rise in rankings moving 6 places from 47th last year to 41st this year.

It Company Rankings

Growth

TCS was the only Indian company  to cross the USD 10k revenue mark in 2012. It clocked revenues worth USD 10,888 million as compared to 9451 million in 2011.

IT Company Revenues

In percentage terms, Cognizant grew the maximum with a growth rate of 20.1 percent, followed by HCL Technologies who clocked 18.1 percent growth.

Infosys had the lowest growth rate among the top 5 Indian IT services providers with 6.6 percent.

Market Share

Market Share of Top 5 Indian companies raised from 3.5 percent to 3.7 percent at a global level with TCS and Cognizant gaining 0.1 percent each. TCS now has 1.2 percent market share in global IT services.

IT company Market Share

It is quite clear from the report that although the growth has been slower than previous years, Indian companies are still growing faster than their global counterparts. They are slowly increasing their market share at global level and expected to do so in foreseeable future.

According to the report, Indian IT companies have become much more aggressive in infrastructure management because it offers them the potential to grow bottom-up within accounts.

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