IT sectors lead the economic growth in terms of employment, export promotion, revenue generation and standards of living. As per NASSCOM estimates, IT sector (excluding hardware) revenues are estimated at USD 87. 6 billion in FY 2011-12; and the industry is expected to grow by 19 per cent during FY 2012-13. The IT sector has led to employment opportunities, both direct and indirect, of nearly 2. 8 million and around 8. 9 million respectively. This growth is expected to increase to more than 14 million (direct and indirect) by 2015 and to around 30 million by 2030.
The market size of the industry is expected to rise to USD 225 billion by 2020 considering India’s competitive position, growing demand for exports, Government policy support, and increasing global footprint. Of late, the industry has slowed down to some extent due to the economic turmoil witnessed in the Euro zone and the USA. Since the industry is indirectly dependent on the financial markets for the revenue generation which constitute a major part, the industry has not gown and generating job opportunities as projected.
Keeping this aside the industry has a very high growth potential and to generate job opportunities in it sector. Then industry has evolve over the period of time and with the advancement in the smartphone industry which had a major influence the industry is now more focused towards mobile applications like online retailing, cloud computing and e-commerce. Online shopping is fast gaining popularity with the emergence of internet retailing and e-commerce.
With the growing internet user base across the world the industry as a whole is to be benefitted with the change. Several benchmarks and assessment criteria have emerged that seek to measure the capability of an organization and the maturity of its approach to service management. Primarily, these alternatives provide a focus on compliance and measurement and therefore are more aligned with corporate governance than with IT service management per se. ISO is once such organization the audits the governance of the organization.
In an IT industry as much as 75% of the costs can be people and people related (offices, telephones, and computers). It’s all about managing the effectiveness and efficiency of human labor. Harder to measure but critical for performance are the ideas and innovations that come from knowledge workers. There is a huge potential to the IT industry in the Indian market along with it comes huge competition from other companies. Some of the major players in the Indian Information Technology industry are listed below.