Global IT Services growth in 2012 down to 2%

 

 

Gartner’s latest report says that the global IT services industry grew by 2 percent in 2012, down from 7.7 percent in 2011. The report also mentions that the top Indian IT service providers grew faster and Cognizant has overtaken Infosys as the number 2.

 

The top five Indian providers* grew 13.3 percent to reach $34.3 billion in 2012, exceeding the IT services industry growth of 2 percent according to Gartner, Inc. The growth decelerated for both industry groups, from 21.8 percent and 7.7 percent, in 2011.

“Cognizant displaced Infosys to become the second-largest Indian IT services provider (see Table 1), and Cognizant experienced the highest growth rate among the top five providers with an increase of 20.1 percent in 2012,“ said Arup Roy, research director at Gartner. ” TCS closed in on the top 10 worldwide market share leader, with less than $1.5 billion separating it from the 10th ranked provider, Hitachi.”

Indian IT Marketshare

Image via Gartner

 

 

See the original report here.

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