Other IT Services - India

India

The projected revenue in the Other IT Services market in India is expected to reach INR US$7.27bn in 2024.
This represents a significant growth in the market.
Looking ahead, the revenue is expected to continue growing at a compound annual growth rate (CAGR) of 7.44% from 2024 to 2029.
By 2029, the market volume is estimated to reach INR US$10.41bn.
When it comes to the average spend per employee in the Other IT Services market in India, it is projected to reach INR US$13.33 in 2024.
This indicates the level of investment and expenditure within the industry.
In terms of global comparison, it is worth noting that United States is expected to generate the highest revenue in the Other IT Services market, with an estimated revenue of US$151.10bn in 2024.
This highlights the dominance of the United States in this sector.
India's Other IT Services market is booming, with a strong focus on software development and outsourcing.

Key regions: China, United Kingdom, Germany, Netherlands, India

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Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.