November 28, 2011: Up goes the IT/BPO industry in India in the year 2011.
In the financial year 2011 it is expected that the overall revenue from Domestic BPO-IT will reach heights. Yes, according to the information available at this point of time, it is expected that the revenues, which is excluding the hardware business might grow up to 16 %. That means; the total revenue will be Rs. 787 billion. The sector has grown at a rapid speed in the year and that is because of the advancement in technology and infrastructure as well as because of the enhanced focus by the government. Some of the key highlights in the year 2011 in the BPO and IT sector are:
- The domestic segment showed extraordinary growth of 16%. This has resulted for the segment to reach overall revenue of Rs. 1,321 billion. The revenue in fact, is equivalent to 28.9 billion US dollars.
- The IT sector in the nation has also made great achievements with 16.8 % rise in the revenue. The growth rate of IT sector has reached up to Rs. 501 billion.
- One of the major highlights to be noticed is that the hardware and IT services totally made 75 % contribution towards the overall revenue.
- The BPO segment is also expected to grow rapidly. There is a huge demand for voice based outsourcing services in the BPO industry today and moreover the value based outsourcing platforms will also leverage the contribution towards the business. There is an expectation that BPO will reach up to Rs. 127 billion revenue.
- Software product market is also an important segment which made some admiring contribution. And the contribution of this particular segment is estimated to reach Rs. 157 billion. That means it will be growing at the rate of 14%. The replacement of in-house software by most of the companies to standardized product has obviously resulted in an increase in this particular segment.
- An unavoidable factor that has increased IT trend in the recent time is the acceptance of IT service in the Government sector.
- The IT adoption in the nation is also leveraged by the nonstop investment by matured verticals along the green field.
- Moreover it is also noticed that the service providers in India is adopting various strategies. Widely using localized strategy is helping such service providers to increase the business; particularly in the domestic IT market.
- It is also noticed that; today companies are more capable in investing huge amount and are also broad minded to accept new technologies. These trends have also resulted in a positive trend in the growth.
Well, experts commented that the sector is in strong economic growth phase and increase in competition as well as technological advancement in the recent time has opened the way for the industry to reach such heights.