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The Information Technology and Software industry is a
global powerhouse today in India, and its impact on country’s economic
development is incomparable. The Information Technology sector has contributed
immensely in positioning the country as a preferred investment destination
amongst global investors. Further, it created huge job opportunities in India,
as well as in the USA, Europe and other parts of the world. In the last decade,
the industry has grown many folds in revenue terms, and relative share to
India’s GDP is around 7 – 8% in FY2021-22.
The IT and software industry has a leading position globally
and has been progressively contributing to the growth of exports and creation
of employment opportunities. Having proven its capabilities in delivering both
on-shore and off-shore services to global clients, the emerging technologies
now offer an entire new gamut of opportunities for top IT firms in India.
Here’s a quick overview of key players in the IT services
segment.
Infosys Ltd
Infosys Ltd (Infosys) is a provider of technology-enabled
business solutions. The company offers a wide range of services. Its products
and services find applications in various industries such as aerospace and
defense, agriculture, automotive, communication services, consumer packaged
goods, education, financial services, healthcare, high technology, industrial
manufacturing, information services and publishing, insurance, life sciences,
logistics and distribution, media and entertainment, mining, oil and gas,
professional services, public sector, retail, travel, and hospitality and
utilities. The company has a market presence in the Americas, Europe, the
Middle East, Africa, and Asia-Pacific. Infosys is headquartered in Bengaluru,
Karnataka, India.
Wipro Ltd
Wipro Ltd (Wipro) is a provider of software solutions, IT
consulting, and business process outsourcing (BPO) services. The company’s IT
service offerings include digital strategy advisory, technology consulting,
custom application design, development, re-engineering and maintenance, IT
consulting and more. Wipro serves various industries, including healthcare,
retail, aerospace and defense, public sector, banking and financial services,
engineering and construction, oil and gas, retail, travel and transportation,
media, education, automotive, and consumer electronics. The company has a
business presence across Asia Pacific, Europe, the Middle East, Africa, and the
Americas. Wipro is headquartered in Bengaluru, Karnataka, India.
Tech Mahindra Ltd
Tech Mahindra Ltd (TechM) provides information technology
(IT) services and solutions. The company offers consulting, digital supply
chain services, infrastructure management services, integrated engineering
solutions, BPO, platform solutions, network services, and testing services.
TechM also provides new generation solutions, such as cloud computing, big
data, machine learning, artificial intelligence, cyber security, data
analytics, and Internet of Things (IoT). The company offers services to various
industries, including banking, financial services, and insurance;
communication; energy and utilities; healthcare and life sciences;
manufacturing; public sector and government; retail and consumer goods;
hi-tech, media, and entertainment; travel, transportation, hospitality and
logistics; and oil and gas. TechM is headquartered in Pune, Maharashtra, India.
Industry Trends
As the global macroeconomic situation changes
dramatically, businesses continue to adopt digital technologies to sustain the
market changes. Given the current technological disruptions and their role in
both facilitating business processes and shaping newer business modes, the
importance of Software and IT industry as a key driver for digital
transformation is increasing. Here are such key metrics that indicate the
growth prospects of the industry.
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Disruptive technologies such as cloud computing,
social media and data analytics are offering new avenues of growth across
verticals for IT companies.
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Large players with a wide range of capabilities
are gaining ground as they move from being simple maintenance providers to
full-service players, offering infrastructure, system integration and consulting
services.
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Public cloud adoption in India is driven by
rising demand from companies for IT modernization. Infrastructure software is
driven by rising demand for security-as-a service offerings, and detection and
response capabilities.
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SEZs to drive IT sector; tier II cities emerge
as new centres. Newer geographies and verticals provide huge opportunities.
Through analyzing the performance of the contributing
companies for the last three years, we can ascertain that the IT Products and
IT Services sectors witnessed compounded annual growth rate (CAGR) of 15% and
12.1% respectively at the end of 2022. The combined CAGR of the IT sector stood
at 13.6% for FY2022.
DART Consulting provides business consulting through its
network of Independent Consultants. Our
services include preparing business plans, market research, and providing
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