BackSurviving in electronics
Surviving in electronics
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The study said that while the overall professional services market grew at a CAGR of 22% over the last 10 years with IT services growing the fastest (24% CAGR) and the remaining parts of the market growing at 12%.
While the growth in the major markets of Europe and the US remains uncertain, the mood was optimistic, and significant domestic demand coupled with demand from new groups of customers (small to mid-size firms) in international markets will continue to drive growth, it said.
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D. Shivakumar talks about how companies can focus on increasing their competitive advantage and managing costs in the technology industry
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With the election results out and the budget just around the corner, Genpact’s Pramod Bhasin talks the BPO industry’s hopes and concerns
At an AIMA summit on IT and knowledge based organisations in Bangalore on Wednesday, Genpact vice-chairman Pramod Bhasin said that while economic cycles in the West would make Indian IT organisations “feel the heat" there was no doubt about growth in the industry, and there were many opportunities ahead.
He however said that the education system has to change as the IT workforces of tomorrow had to adapt to a new environment, moving beyond labour arbitrage to focus on expertise in domains, direct connect with consumers, and on producing products and services that were truly global.
Infosys vice-chairman Kris Gopalakrishnan said that the addressable footprint of the IT industry had scaled several times over the last few years, and this gave ground for optimisim for continued growth and move up the value chain. He too stressed the importance of education.
Changing market dynamics coupled with changing customer expectations and talent trends are key industry drivers, the report said, with a “paradigm shift from ‘cost’ being the primary driving factor to ‘quality’, insight, and knowledge influencing a growing range of engagements in the IT&KPS sector.
“The traditional ‘one size fits all’ approach is a diminishing trend and now there is an increased demand for customized high-quality services and solutions — albeit at competitive prices with clear value. This presents a challenge for the Indian IT&KPS players, where systems and processes differ across companies and industries, unlike their global counterparts, where processes are standardized, thus making it easier to scale up and adapt. Leadership vision and insight in economically evolving times like these are critical to drive the IT&KPS organizations to growth and prosperity."
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