IT majors in India have been dependent on international markets since a very long time. But the newly published report from Springboard Research should compel them to thing otherwise and concentrate on the domestic market as well. According to the report, the Indian IT services market is set to grow from USD 4.1 billion in 2007 to USD 8.1 billion by 2011 at a CAGR of 18.6 percent.
The report highlights that the Indian IT services market is heavily dominated by infrastructure services which is expected to grow to USD 4.27 billion by 2011. Application services is estimated to grow at a CAGR of 19.6 percent and IT consulting is expected to reach USD 400 million by 2011. The report says that enterprise IT outsourcing in India will grow at a CAGR of 24.4 percent.
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