India IT services market to touch US$25 billion by 2004

The Information Technologyservices market in India is projected to grow at ablistering 45 percent annually in the next four years to touchUS$25 billion by 2004 from the current US$5.5 billion,according to a study by an international research agency.

The Information Technology services market in India is projected to grow at a blistering 45 percent annually in the next four years to touch US$25 billion by 2004 from the current US$5.5 billion, according to a study by an international research agency.

NEW DELHI, 10 July 2000 (Asia Pulse) - The lion's share of this would come from IT development and integration services which would account for US$21.1 billion, from its current size of US$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 US$2.1 billion in 2004 compared to US$0.6 billion in 2000.

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

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

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