IT majors in India have been dependent on international markets since a very long time. But the newly published report from Springboard Research should compel them to thing otherwise and concentrate on the domestic market as well. According to the report, the Indian IT services market is set to grow from $ 4.1 billion in 2007 to $ 8.1 billion by 2011 at a CAGR of 18.6 percent.

The report highlights that the Indian IT services market is heavily dominated by infrastructure services which is expected to grow to $ 4.27 billion by 2011. Application services is estimated to grow at a CAGR of 19.6 percent and IT consulting is expected to reach $ 400 million by 2011. The report says that enterprise IT outsourcing in India will grow at a CAGR of 24.4 percent.

Springboard Research’s report claims that the top five IT services in India comprise of Infrastructure Application Integration, Enterprise IT Outsourcing, Enterprise Application Integration, Custom Application Development and Network Integration.

"India is the epicenter of growth in Asia Pacific IT Services marketplace," said Sanchit Vir Gogia, Senior Research Analyst for Services at Springboard Research. "Not only is the India IT Services market forecast to be the fastest growing in the region, the country also has a rather unique position in the worldwide outsourcing arena through a well-educated and language-proficient workforce, that sets it apart from other Asian competitors," Mr. Gogia added.