In fiscal year 2023, the global revenue of Infosys Limited amounted to about 18.2 billion U.S. dollars, which was a significant increase in comparison to the 16.3 billion dollars last year. This makes Infosys one of the biggest IT services and consulting companies in India.
IT industry in India
The Indian IT industry is famous for providing quality IT outsourcing services for major companies in Europe and North America. India has earned the nickname of “global outsourcing hub”. The IT industry has generated nearly 150 billion U.S. dollars in export revenue in fiscal year 2021 for India. The success of Indian IT industry is due to several reasons, including favorable government policies, a good English-medium educational system, a large population providing abundance of talents, and a fairly open market.
Future in outsourcing
Ironically, thanks to the COVID-19 pandemic, digital transformation has accelerated since 2020, increasing the demand for IT outsourcing services. A major aspect of the trend is cloud computing. This includes segments like infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). These services enable more convenient and cheaper adaptation for outsourcing services. In 2022, it was estimated that the revenue of public cloud services in India would reach 7.3 billion dollars.
Revenue of Infosys Limited worldwide from financial year 2014 to 2023
(in billion U.S. dollars)
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Revenue in billion U.S. dollars
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Infosys. (August 28, 2023). Revenue of Infosys Limited worldwide from financial year 2014 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/900303/india-infosys-revenue/
Infosys. "Revenue of Infosys Limited worldwide from financial year 2014 to 2023 (in billion U.S. dollars)." Chart. August 28, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/900303/india-infosys-revenue/
Infosys. (2023). Revenue of Infosys Limited worldwide from financial year 2014 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/900303/india-infosys-revenue/
Infosys. "Revenue of Infosys Limited Worldwide from Financial Year 2014 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 28 Aug 2023, https://www.statista.com/statistics/900303/india-infosys-revenue/
Infosys, Revenue of Infosys Limited worldwide from financial year 2014 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/900303/india-infosys-revenue/ (last visited July 22, 2024)
Revenue of Infosys Limited worldwide from financial year 2014 to 2023 (in billion U.S. dollars) [Graph], Infosys, August 28, 2023. [Online]. Available: https://www.statista.com/statistics/900303/india-infosys-revenue/