Research agency IDC has released the latest forecast on Indian IT services market for 2018.
The India IT & Business Services market is expected to achieve a growth rate of 6.9 percent in 2018 to reach $12.9 billion, and 7.9 percent in 2019 to touch $13.9 billion.
IT Services, which accounted for around 78 percent of the IT & Business Services spending in 1H 2018, is expected to grow at 6.9 percent year-on-year to reach $ 9.9 billion for the full year 2018.
Security services gained ground in 1H 2018 due to cyber threats and is forecasted to grow at a CAGR of 20.7 percent between 2017-22.
IDC estimates that the IT Services market will grow at a CAGR of 8.2 percent between 2017-2022, to reach $13.7 billion by the end of 2022.