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India IT services & business market to hit $13.3bn this year

New Delhi, Nov 27

Led by system integrators, the India IT services and business market is likely to grow annually by 6.9 per cent to hit $13.3 billion by the end of this year, an IDC report said on Wednesday.

According to the IDC's 'Worldwide Semiannual Services Tracker - 1H19," the IT and Business Services market is further expected to grow annually by 6.8 per cent to be valued at $14.2 billion by December 2020.

The highest revenue generating segment in IT Services market continued to be Systems Integration in 1H19, on account of the shift towards modernized infrastructure and applications.

"Vendors are investing heavily on re-skilling and upskilling their workforce to gain confidence and drive more business across major verticals such as BFSI, government and manufacturing, among others," said Shweta Baidya, Senior Research Manager, Software and IT Services, IDC India.