Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Indian IT market to touch $65 billion by 2009: IDC
By Sources
|
Thursday, 07 July 2005, 19:30 IST
NEW DELHI: THE Indian IT market is likely to touch $65 billion by 2009, posting a compounded annual growth rate of 21 per cent, according to research firm IDC.
"The Indian IT market crossed the $25-billion mark in 2004. This included a contribution of $16.7 billion from exports and $8.5 billion from the domestic market. This is the best performance by the domestic industry after the technology market bounced back from the slowdown," said Kapil Dev Singh, Country Manager, IDC.
The IT exports grew by 32 per cent in 2004 touching $167.7 million in revenue. Services exports clocked $113 million whereas ITES and hardware exports clocked $54 million. The growth came primarily from BPO services, which grew by 42 per cent in 2004.
The domestic market grew by 22.9 per cent over 2003 and the growth primarily came from IT services (26 per cent), PCs (25 per cent), datacom products (32 per cent) and multi-function devices (48 per cent).
The IDC stated " year-on-year growth rate is expected to peak at 23.3 per cent in 2005, the highest during this business cycle (2004-2009). The domestic market will grow at an average rate of 17 per cent for the period 2004-09 and will move from 
38,303 crore in 2004 to Rs 84,878 crore in 2009,"
The high growth categories for the five-year period identified by IDC are hardware comprising notebook PCs, digital cameras, smart handheld devices, wireless LAN equipment and other new kinds of peripheral devices; software comprising security software, business intelligence software, system management software, information and data management software and storage software; and services including enterprise-wide outsourcing, network consulting and integration, software support, and system integration.
38,303 crore in 2004 to Rs 84,878 crore in 2009,"
The high growth categories for the five-year period identified by IDC are hardware comprising notebook PCs, digital cameras, smart handheld devices, wireless LAN equipment and other new kinds of peripheral devices; software comprising security software, business intelligence software, system management software, information and data management software and storage software; and services including enterprise-wide outsourcing, network consulting and integration, software support, and system integration.