News :Global IT outsourcing market grows by 7.8 per cent

Global IT outsourcing market grows by 7.8 per cent in
Information technology services providers based in India and those offering cloud services recorded the highest growth in 2011, as the worldwide IT outsourcing (ITO) revenues grew by 7.8 % in 2011, market research firm Gartner said on Monday.
Global ITO market grew from $228.7 billion in 2010 to $246.6 billion last year.

IBM maintained the top spot in terms of market share and just about matched the industry growth whileHewlett-Packard came in second even as it lagged industry growth levels at just about at 2%, presumably distracted by internal distractions of senior management changes. IBM revenues accounted for 10.9% of the overall ITO revenues.

Accenture reported the highest revenue growth during the year with 18.2% growth, but trailed peers with a 2.6% market share. Forty-three service providers, who collectively grew by 9.5 percent, booked revenues of $1 billion or more during the year.

“For many leading providers in the ITO market, 2011 revenue results demonstrate how challenging simply maintaining a market share position has become, much less gaining share – and this challenge is likely to worsen over the next few years for providers that do not address these forces”,Bryan Britz, research director at Gartner said

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