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

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DQW Bureau
New Update



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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.”

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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.

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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.

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