The year-end India Domestic ICT Market Top 10 Predictions 2010 report by leading ICT market intelligence firm IDC India has suggested that important structural changes, brought about by the impact of economic slowdown will accelerate industry transformation towards a new “market order”. This new phase of market growth and development, termed as “Growth Phase 2.0” is evolving along trends that are quite different from the earlier phase.
Growth Phase 2.0, which started in 2009, will be built on the back of innovative services and solutions sought by consumers and enterprises alike. IDC expects the annual growth rate of the India domestic IT-ITeS market growth rate to reduce down from an average of 24% recorded during 2003-08 (Growth Phase 1.0) to 14.6% over the next five-years to 2013 (Growth Phase 2.0). This relatively slower growth, albeit on a higher base, will witness enhanced competition leading to a rapidly-changing strategy and continuous market realignment on the part of ICT vendors and suppliers. However, the domestic IT market is expected to grow at 13.0% in 2010 to touch Rs.1,07,655 crore, while the domestic ITeS market is expected to post revenues of Rs.13,011 crore, a growth of 35.0 %.
"In 2010, changes that started last year will take concrete shape. As the economy recovers, both consumers and enterprises would demand services and solutions that allow them to ‘do more with less’. The key business concerns through 2010, will be business model innovation, improved productivity, faster return on investment and cost savings,” observed Kapil Dev Singh, Country Manager, IDC India.
IDC has predicted four major trends for the year 2010. This includes the transformation of “Consumer 1.0” to “Consumer 2.”, increased adoption and acceptance of “game changing” technologies such as x-as-a-Service delivered through the Cloud and Green Tech and 3G/BWA telecommunications networks, Government intervention in providing economic stimulus to lagging end-use sectors and lastly “Consolidation” and “ Leveraging” of IT and telecommunications infrastructure built in Growth Phase 1.0 to realise greater business efficiencies and launch innovative product / solution offerings.
