Information technology services providers based in India and those offering cloud services recorded the highest growth in 2011, as the worldwide IT outsourcing (ITO) revenues grew by 7.8 % in 2011, market research firm Gartner said on Monday.
Global ITO market grew from $228.7 billion in 2010 to $246.6 billion last year.
IBM maintained the top spot in terms of market share and just about matched the industry growth whileHewlett-Packard came in second even as it lagged industry growth levels at just about at 2%, presumably distracted by internal distractions of senior management changes. IBM revenues accounted for 10.9% of the overall ITO revenues.
Accenture reported the highest revenue growth during the year with 18.2% growth, but trailed peers with a 2.6% market share. Forty-three service providers, who collectively grew by 9.5 percent, booked revenues of $1 billion or more during the year.
"For many leading providers in the ITO market, 2011 revenue results demonstrate how challenging simply maintaining a market share position has become, much less gaining share - and this challenge is likely to worsen over the next few years for providers that do not address these forces",Bryan Britz, research director at Gartner said.
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