The domestic Indian IT/ITeS market will grow at 13.4% in 2009, the slowest since 2003, according to intelligence firm, IDC India. The forecast suggests that important structural changes, taking place on the back of a global economic meltdown, will propel a new 'market order' in the domestic Indian IT/ITeS industry.
This new 'market order', termed as Growth Phase 2.0, will be quite different from the earlier phase, Growth Phase 1.0 (2003-08), during which the domestic market witnessed unprecedented growth, nearly tripling the market size from Rs. 34,000 crore in 2003 to Rs.1,01,031 crore in 2008, a CAGR of over 24%.
The India Domestic IT/ITeS Market Top 10 Predictions for 2009 are as given below:
1. Slowdown to accelerate IT/ITES market transformation from growth phase 1.0 to growth phase 2.0
2. India to be the fastest growing market in APAC
3. IT optimization technologies adoption and usage to grow
4. Telecommunications sector it spending growth will be fastest
5. The outsourcing services market will move towards consolidation in favour of larger players in 2009
6. Experimentation with 'cloud computing' model will increase but will not become mainstream in 2009
7. The stage would be set in 2009 for new channel forms to evolve
8. Consumer 2.0 elusive! delay in orchestration of content, convergence and connectivity
9. Enterprises to look at an integrated security approach, revamp their business continuity plans
10. Global it growth will be halved
Source: The Economic Times
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