Indian infotech market grows strong
India, known as an exporter of IT services to the West, is itself emerging as a strong market for information technology as the world’s second fastest growing major economy.india Updated: Dec 17, 2012 23:08 IST
India, known as an exporter of IT services to the West, is itself emerging as a strong market for information technology as the world’s second fastest growing major economy.
The number of deals in IT is poised to grow 30% in 2012 from a year ago, Bangalore-based industry advisory firm Zinnov said on Monday. The winners of deals over the past seven quarters are dominated by multinationals that sell everything from business management and desktop software to solutions tailored for specific industries.
Oracle, SAP, IBM and Microsoft featured as top vendors with a 33% share in all enterprise deals and 36% share in all small and medium business deals, a statement said.
“With 30% growth in the number of IT deals every year, India has become a key market of focus for most IT companies worldwide,” said Praveen Bhadada, director, market expansion, Zinnov.
“India currently has over 3,500 public listed companies, and about 10 million SMBs (small and medium businesses) which can potentially consume technology and is a very big opportunity to tap into,” he said.
With 31% of all deals, the Indian SMB market is evolving as a keen consumer of IT, it said.