Global IT revenue worth $748 billion - India up 18% in 2007

By Subhankar Kundu @ Thursday, May 15, 2008 11:15 AM

Section - Business/Financials

Information technology has made yet another milestone in global economics. According to IT research and advisory firm, Gartner, global IT services recorded a revenue growth of 10.5 % in the year 2007.The global IT services revenue this year amounts to $748 billion which is a 10.5 % increase from the $677 billion recorded in 2006.

Kathryn Hale, Gartner’s vice president (research), said strong growth combined with strong first quarter results for market leaders, ran counter to the gloomy and widespread economic concerns. Many providers are successful in selling buyer value propositions, Hale added.

IBM topped the market leaders list with a market share of 7.2%. IBM and Accenture have a shown a strong growth. Four other companies – Fujitsu, HP, CSC and EDS recorded a revenue growth above overall market average.

Amidst of the report of 10.5 % growth in global IT services revenue, reports kept flowing of Indian IT recording a growth of 18% in 2007-08. India surpassed a overall IT growth in Asia pacific . Cost is not the only factor behind India’s constant growth in IT & outsourcing, efficiency and business dexterity are also counted. X