New Delhi, Aug 13 (UNI) Leading IT companies Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies will emerge the next generation of IT service megavendors, replacing the likes of IBM and Accenture, according to a Gartner study.
''These vendors are increasingly being considered for strategic service deals, and will augment or, in some cases, replace today's acknowledged megavendors by revenue-IBM Global Services, Accenture and EDS-in this space by 2011,'' the study said.
The trio, which is referred as India-3 in the study, have a combined market cap of more than 76 billion dollars, although IBM Global Services, the current leader in IT services, alone has a market capitalisation of almost double of that.
''The emerging megavendors have made dramatic progress in the past few years and have more than doubled their revenue in a four-year period, with the 2007 revenue being 2.6 times the 2004 revenue,'' Gartner Vice President and Regional Research Director Partha Iyengar said.
TCS, Infosys and Wipro clocked 32.45 per cent, 35.15 per cent and 37.94 per cent growth, respectively, in the last fiscal.
Indian IT service industry as a whole has posted a growth of 28 per cent and 35 per cent in the last two fiscals, respectively.
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