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Indian IT mkt to touch Rs 1,71,697 cr in 2012

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CIOL Bureau
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BANGALORE, INDIA: Even as the IT and telecom market is booming in India, CyberMedia Research, India’s premier research and advisory firm, has projected that the overall India domestic IT services and products markets will touch Rs. 1,71,698 crore in 2012.

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Growing at a CAGR of 17.3 per cent over 2010-2014, the aggregate market size of the domestic IT services and IT products sector will touch Rs 2,33,930 crore or USD 51 billion by 2014, the study said. This projection shows the continuing importance of the domestic IT sector, said CMR.

According Anirban Banerjee, associate vice president, CyberMedia Research, “A large chunk of IT hardware and software products, will witness good traction on account of the healthy growth in IT services, as enterprises try to gain the best leverage out of their IT deployment.”

Indian telecom industry is booming

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In an earlier study, CyberMedia Research said that the combined telecom services and products markets will touch Rs. 2,88,832 crore in 2012 and the sector will grow at a CAGR of 15.8 per cent over five year period 2010-2014 leading up to a total domestic telecoms market opportunity of Rs 3,77,685 crore by 2014.

This means, the combined market for telecom services, mobile phones and IT will be Rs. 4,60,500 crore by 2012.

“The Telecoms growth story will be a function of the enhanced demand for high-speed broadband and data services from both enterprises and consumers, as 3G and BWA / WiMax services are rolled out by various operators to cover an increasing number of cities and towns,” Anirban added.

The study also said domestic IT services and IT-enabled services markets will grow at a CAGR of 21.1 per cent to touch Rs 98,188 crore by 2014, while the India Public Cloud Computing market is expected to grow at a 53 per cent CAGR over the five-year period, 2010-2014, to touch Rs. 2,434 crore by 2014.

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