Indian IT cos gain traction in UK
The share of Indian IT services providers in the UK’s IT/ITeS market on a high growth mode, having tripled their revenues in the last four years, according to a consulting firm. According to Ovum, a research and consulting firm Driven by sustained demand for offshoring capability and lower prices, the country (India) has tripled its share of top 50 revenues since 2003 and now has four representatives - TCS, Wipro, Infosys and HCL - in our rankings.
According to the latest results of the Indian IT services companies, Infosys garnered 26.8% of its revenues from Europe, while it is 30% for Wipro. For TCS, UK alone contributes 19.9% of its revenues, while all of Europe accounts for 27.7%. HCL Technologies generates 28.8% of its revenues from Europe.
However, Ovum said that despite the growth of Indian players, their market share remains pretty low at just 5% of the combined revenues of the top 50 companies. In contrast, Japan with just one representative in Fujitsu, still claims a bigger slice of the UK top 50 than India.
Indian IT services have been constantly speaking about increasing their market share in Europe through both organic and inorganic routes. As of now, more than 80% of Indain Companies’ Europe revenues come from the UK. Recently, Infosys announced the takeover of Philips’ BPO business, which fetched for it a centre in Poland.
Wipro on the other hand, has been talking about making an acquisition in Europe to strengthen its presence there, having already made a couple of buyouts. TCS, meanwhile, had acquired UK’s Pearl BPO in 2005.
In the overall UK market, EDS has taken the number one spot from IBM. But the US giants re losing market share.
