by: Sarah Joson
Wednesday, May 23, 2012 | Outsourcing News |
According to a report from global research and consultancy firm Gartner, global IT outsourcing (ITO) revenues increased 7.8% in 2011, with Indian IT providers and cloud services vendors posting the highest growth rate. Meanwhile, global ITO market reached $246.6 billion in 2011, from $228.7 billion in 2010.
IBM got the lion’s share of the market and was seen to grown robustly much like the industry. Moreover, IBM’s revenues contribute 10.9 percent to ITO industry’s total revenues. Hewlett-Packard, on the other hand, took the second spot amid a low growth rate at 2%, which is said to be brought on by internal management issues.
An 18.2% growth was posted by Accenture but only had 2.6% of the entire ITO market. Furthermore, 43 service providers reported revenues of more or less $1 billion for fiscal year 2011.
Meanwhile, Bryan Britz, Research Director at Gartner, said the 2011 figures show just how hard it is for top players in the ITO space to maintain market share and acquire new ones. The situation is predicted to get worse for service providers that will not address the issues.
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