Top 6 Indian IT firms outpace market growth

In a recently published report, Gartner said that the top six India-based offshore service providers, collectively referred to as the ‘SWITCH’ companies (Satyam, Wipro, Infosys, TCS, Cognizant and HCL Technologies), accounted for 2.4% of the total worldwide IT services market in 2007 as compared to 1.9% of the total worldwide IT services market in 2006. Collectively and individually, this group of companies have achieved growth rates that have outpaced the rest of the market. All indications are that the Western European market is the next target growth area for offshore services.

Each of these providers is pursuing growth in the broad-based IT services market. Although the roots of several of these providers were in the application services market, over time each has evolved its coverage of the services market, expanding into a broader base of services, such as infrastructure services.

Arup Roy, senior research analyst, Gartner, said, "With such strong growth rates that exceed the overall market, the India-based IT services providers are increasing in their competitiveness and taking market share away from the rest of the market. Increasingly they are competing in larger outsourcing deals, with deal values routinely exceeding $100 million and spanning multiple years."

"While application development and management services remain the bulk of their revenue stream, there is a gradual diversification in other service lines, such as consulting and remote infrastructure management services, where they have experienced high growth