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Asia-Pacific's IT Services Market Forecast to Hit US$205 Billion by 2015

Asia-Pacific's IT Services Market Forecast to Hit US$205 Billion by 2015

by CFO Innovation Asia Staff, 15 June 2011
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Technology
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The IT services spend within the Asia-Pacific region will grow at a compound annual growth rate (CAGR) of 6.6% during the next four years to hit US$205 billion by 2015, predicts Ovum.

 

Ovum finds that although the Asia-Pacific region suffered slightly during the recession the market is rebounding, with growth likely to top 9% in 2015.

 

“Enterprise customers throughout the region who had curtailed spending and put many transformative projects on the back-burner during the downturn have started investing for growth again. A large proportion of the growth will be driven by applications and consulting engagements with enterprises aiming to upgrade, transform, and modernize their IT environments in order to support the rapid expansion being experienced in the majority of the region’s economies,” says Hansa Iyengar, Senior Analyst with Ovum’s Market Intelligence team.

 

Meanwhile, Ovum has also released a new market share analysis of the top 30 IT services vendors in the region. Fujitsu retains the number one slot in terms of IT services revenue in 2010, with a market share of 13.9%.

 

Global vendors continue to be major representatives in most markets across the region, with the exception of Japan, which is still dominated by the large domestic providers. This highlights the fact that there still exists a “home-bred” tendency, but with an increasing desire to learn and engage with established global providers to support enterprises’ expansionary plans.

 

Many of the regional and local players continue to display strong growth in core areas of expertise and industry-specific offerings, especially in areas such as mining, financial services and telecommunications.

 

“A key trend worth noting, is the growth in leveraging consulting services to define and align strategic plans and longer-term operational roadmaps, prior to committing to multi-year strategic engagements,” concludes Jens Butler, Principal Analyst with Ovum’s IT Services team.

 

 

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