Indian IT services mkt to touch $ 25 billion by 2004 -- Gartner

Indian IT services mkt to touch $ 25 billion by 2004 -- Gartner
PRESS TRUST OF INDIA

NEW DELHI, JULY 9: Information technology (IT) services market in the country is projected to grow at a blistering 45 per cent annually in the next four years to touch $25 billion by 2004 from current $5.5 billion, according to a study by an international research agency.

The lion's share of this would come from IT development and integration services which would account for $21.1 billion, from the current size of $3.9 billion, the study on IT services market in India by Gartner said.

According to Gartner, development and integration, which currently accounts for 71.9 per cent of the overall IT services market in the country, would grow to represent 84.3 per cent of the total market size by 2004.

The sector is estimated to grow at a compounded annual growth rate (CAGR) of 51 per cent over the next four years. The study said education and training would emerge as the second largest revenue generator accounting for $2.1 billion in 2004 compared to $0.6 billion in 2000.

The software maintenance segment would touch $0.9 billion by 2004 end, reflecting an annual growth rate of 16 per cent from $0.4 billion in 2000, it said.

On the hardware services, Gartner said that the market would increase to 0.22 billion over the next four years, up 10 per cent from 0.15 billion this year.