By IANS,
New Delhi : India’s leading IT companies Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies will emerge the next generation of IT service megavendors, leaving behind the likes of IBM and Accenture, according to an industry think tank.
“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,” a study conducted by Gratner said Wednesday.
The trio, which is referred as India-3 in the study, have a combined market cap of more than $76 billion 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,” Partha Iyengar, vice-president and regional research director of Gartner, said.
TCS, Infosys and Wipro clocked 32.45 percent, 35.15 percent and 37.94 percent growth, respectively, in the last fiscal.
Indian IT service industry as a whole has posted a growth of 28 percent and 35 percent in the last two fiscals, respectively.