- The key vendors in the IT services market in Asia 2015-2019 are Fujitsu Ltd., Hitachi Ltd., IBM Corp., and NEC Corp.
London, 8 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the IT services market in Asia 2015-2019. The growing importance of cloud-based services is a critical trend observed in this market. Cloud-based services allow companies to easily access technologies like infrastructure, platforms, and software that need proper IT support. Advantages such as maximum uptime, access to innovative technologies, and the reduction of maintenance and resource expenses aid in the adoption of cloud services. This market is expected to grow at a CAGR of 8.89% during the forecast period of 2014-2019.
Rapid economic expansion in India and China drive growth in this market. Factors like the necessity for modernizing infrastructure, the rise in disposable incomes, growing middle-class population, the popularity of social media and mobile devices also aid in the growth of this market. Growing need for modernizing infrastructure increases the need for IT, which in turn augments the demand for IT services in this region.
“Offshore outsourcing of IT services is being observed as a profitable business model because it provides clients with the opportunity to establish an economical cost structure. Though India is still observed to be the top offshore ITO destination, clients worldwide are looking to explore other destinations such as the Philippines and Singapore,” says Faisal Ghaus, Vice President of Technavio Research.
“Offshore destinations are gaining popularity because of improved IT skills and development of the overall infrastructure. The 24/7 availability of high-quality and low-cost services have prompted other international companies to invest in the Asian countries, which is stimulating the IT services market in Asia.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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