Indian IT market to touch $65 billion by 2009: IDC

The Indian IT market is estimated to touch $65 billion by 2009, posting a compounded annual growth rate of 21 per cent, according to research firm IDC, says The Hindu Business Line.

The IT exports grew by 32 per cent in 2004 (in rupee terms) touching Rs 75,477 crore in revenue. Services exports clocked Rs 51,047 crore whereas ITES and hardware exports clocked Rs 24,430 crore. The growth came primarily from BPO services, which grew by 42 per cent (in rupee terms) in 2004.

The domestic market grew by 22.9 per cent over 2003 and the growth primarily came from IT services (26 per cent), PCs (25 per cent), datacom products (32 per cent) and multi-function devices (48 per cent).

The high growth categories for the five-year period identified by IDC are hardware comprising notebook PCs, digital cameras, smart handheld devices, wireless LAN equipment and other new kinds of peripheral devices; software comprising security software, business intelligence software, system management software, information and data management software and storage software; and services including enterprise-wide outsourcing, network consulting and integration, software support, and system integration.