Gartner today released report on the performance of top 5 Indian IT / software services companies. The top 5 registered a cumulative growth of 23.8 percent in FY 2011, as compared to a average growth of 7.7 percent by their global peers.
Among the top 5 companies, Cognizant registered highest growth rate of 33.3 percent and Wipro registered lowest of 12.3 percent. Considering the growth rate of Cognizant, it will surpass Infosys in revenues by end of 2nd quarter of 2012. Infosys registered 17.8 percent growth in FY 2011, second lowest among the Top 5 Indian IT services companies.
Gartner report adds that Tier 1 Indian IT companies dramatically outperformed Tier 2 & Tier 3 companies. However, there were a few exceptions in smaller companies as well. Tier 2 companies like Genpact and Syntel grew 27 & 21 percent respectively.
TCS now commands 1.1 percent of global IT services market share, while Cognizant & Infosys both have 0.7 percent.
Top 5 Indian IT Services company Revenues [in USD Million]
Top 5 Indian IT Services company Global Rankings
While Cognizant grew the fastest, TCS gained on the global ranking leaderboard – It gained 5 places to rank 16th globally. Cognizant jumped 3 places to be ranked 27th largest IT company in the world.
HCL Technologies rose 2 places to rank 46th, while Infosys & Wipro held on to their global rankings of 26th & 31st.