The Indian IT market is expected to grow by 18 per cent to $38 billion in the present year, clocking second highest growth rate after China, which is likely to attain a 20 per cent growth and touch $138 billion mark, according to research data released by Forrester.
Forrester senior analyst Jonathan Brown, who authored the report, says, “The IT sector has long looked to India for top-drawer technology talent. But India is poised to become an increasingly important market for technology vendors as its population comes of age (half of India’s population today is under 20), its rural areas become increasingly developed, and its engagement with the US increases. It’s time the tech vendors no longer treat India as merely a skilled talent pool but also as a lucrative market in its own right.”
Forrester felt that Indian firms would make great leaps in application integration, ERP, CRM, unified communications, and security and regulatory compliance.
The report noted that while Asia-Pacific economies are closely connected to each other through trade and cross investment, they differed in their levels of economic development and the state of their IT infrastructure. For instance, while India, Korea and China demonstrated tremendous enthusiasm for the SaaS (software as service) model, Japan and Hong Kong appeared reluctant to abandon traditional development and licensing models in favour of SaaS.
The report ‘The State Of A-PAC Enterprise Technology Adoption: 2008′, gives highlights of data collected from 777 companies in the Asia Pacific region via Forrester’s Enterprise Technology Adoption Survey (Asia Pacific, Q4 2007).
These 777 companies, which had a 1000-plus employee size, from countries such as Australia, New Zealand, India, Korea, Singapore, Japan and China participated in the survey.
Source: HinduBusinessLine
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