Top Five Indian IT Services Providers Grew 23.8% In 2011: Gartner

The top five India-based IT services providers grew 23.8 percent in 2011, compared with 7.7 percent growth for the global IT services market as a whole, according to Gartner, Inc.Cognizant displaced Wipro to become the third-largest Indian IT services provider, and it experienced the highest growth rate of 33.3 percent amongst the top five providers in 2011.“2011 signaled a change in the mind-set of European buyers, particularly Continental Europe for offshore services,” said Arup Roy, Principal Research Analyst, Gartner. “Indian providers have historically found it more difficult to gain market share in the Western Europe IT services market than in the U.S. market, but, as a group, the top five increased market share in the region from 2.3 percent in 2010 to 2.8 percent in 2011.”On average, the Tier 1 providers dramatically outperformed the growth rates of Tier 2 and Tier 3 providers, despite the consolidation and acquisitions among some of the smaller firms. There were some standouts, however, with Genpact up 27 percent and Syntel up 21 percent. Smaller providers were charged with creating a more compelling marketing message that went beyond labor arbitrage. Click here for full story