Mumbai, Apr 30 (UNI) The Indian domestic IT and ITeS market is expected to cross the Rs 2,00,000 crore (US$ 50 Billion) mark in 2012 compared to Rs 90,014 crore recorded last year, growing at a CAGR of 18.4 per cent in the five year period.
Together with IT and ITeS exports revenue of Rs 3,20,278 crore, the total IT and ITeS industry size would grow to Rs 5,29,976 crore (USD 132 Billion) by 2012, representing a CAGR of 16.5 per cent IDC India said in its latest projections on the ICT industry.
Sharing the IT and ITeS domestic and exports market projections for 2008-2012, India Country Manager Kapil Dev Singh said the domestic IT and ITeS industry CAGR of 18.4 per cent (during 2008-12) is expected on the back of a robust growth of the past five years (2003-2007). ''We expect the industry to achieve this by offering innovative services to the evolving domestic buyers, we've called 'Consumer 2.0'," he added.
The Indian IT and ITeS industry grew to Rs 2,46,609 crore in 2007, up from Rs 2,01,413 crore in 2006, representing a growth of 22.4 per cent. Of the total industry size of Rs 2,46,609 crore, the domestic IT and ITeS Market contributed Rs 90,014 crore, while the remaining Rs 1,56,594 crore was contributed by the IT and ITeS exports segment. In 2007, IT Services (excluding ITeS) Exports continued to be the biggest segment at Rs 97,492 crore.
In 2008, IDC expected the IT and ITeS industry to grow at 20 per cent, with the domestic market growing at 22.4 per cent compared to the IT and ITeS export market growth of 18.9 per cent. The overall industry is projected to be Rs 5,29,976 crore by end 2012, with the share of domestic IT and ITeS revenues adding to 40 per cent of the total, compared to the current 37 per cent.
The IT and ITeS exports market was likely to more than double to Rs 3,20,278 crore in 2012 from Rs 1,56,594 crore in 2007.
"IDC believes that today's connected consumer is using many more converged devices and looking for relevant content and services. We expect this trend to continue, with the addition of newer dimensions, so as to permeate to the mid- and lower-end of the pyramid by 2012," Mr Singh added.
India's packaged software and services market grew faster than the hardware market, a trend that was likely to continue over the next five years. While packaged software and services as a segment is projected to grow from Rs 29,104 crore in 2007 to Rs 73,101 crore in 2012, the hardware segment is expected to grow from Rs 48,940 crore to Rs 96,558 crore in the six year period (2007 to 2012).
UNI VK DB SM1045