Indian IT market to touch Rs 1,71,697 cr in 2012

Even as the IT and telecom market is

booming in India, CyberMedia Research, India's premier research and

advisory firm, has projected that the overall India domestic IT

services and products markets will touch Rs 1,71,698 crore in 2012.

Growing at a CAGR of 17.3% over

2010-2014, the aggregate market size of the domestic IT services and

IT products sector will touch Rs 2,33,930 crore or $ 51 bn by 2014,

the study said. This projection shows the continuing importance of

the domestic IT sector.

According Anirban Banerjee, associate

VP, CyberMedia Research, “A large chunk of IT hardware and software

products, will witness good traction on account of the healthy growth

in IT services, as enterprises try to gain the best leverage out of

their IT deployment.”

Indian telecom industry is booming:

In an earlier study, CyberMedia

Research said that the combined telecom services and products markets

will touch Rs 2,88,832 crore in 2012 and the sector will grow at a

CAGR of 15.8% over a period of 5 years, leading upto a total domestic

telecoms market opportunity of Rs 3,77,685 crore by 2014. This means,

the combined market for telecom services, mobile phones and IT will

be Rs 4,60,500 crore by 2012.

“The telecom growth story will be a

function of the enhanced demand for high-speed broadband and data

services from both enterprises and consumers, as 3G and BWA / WiMax

services are rolled out by various operators to cover an increasing

number of cities and towns,” Banerjee added.

The study also said that domestic IT

services and IT-enabled services markets will grow at a CAGR of 21.1%

to touch Rs 98,188 crore by 2014, while the India public cloud

computing market is expected to grow at a CAGR of 53% over the said

five-year period, 2010-2014, to touch Rs 2,434 crore by 2014.