::::Global IT outsourcing market grows by 7.8 per cent in Fy '11::::

<div class=&quot;custm_img_blk&quot;><img src=&quot;http://www.techgig.com/files/photo_1337713807_temp.jpg&quot; border=&quot;0&quot; align=&quot;left&quot; /></div><p style=&quot;padding: 0px; margin: 0px 0px 15px; border: 0px&quot;>Information technology services providers based in India and those offering cloud services recorded the highest growth in 2011, as the worldwide&nbsp;<span style=&quot;margin-bottom: 10px&quot;>IT outsourcing</span>&nbsp;(ITO) revenues grew by 7.8 % in 2011, market research firm&nbsp;<span style=&quot;margin-bottom: 10px&quot;>Gartner</span>&nbsp;said on Monday.</p><span style=&quot;padding: 0px; margin: 0px; border: 0px&quot;>Global ITO market grew from $228.7 billion in 2010 to $246.6 billion last year.</span><p>IBM maintained the top spot in terms of market share and just about matched the industry growth while<span style=&quot;margin-bottom: 10px&quot;>Hewlett-Packard</span>&nbsp;came in second even as it lagged industry growth levels at just about at 2%, presumably distracted by internal distractions of senior management changes.&nbsp;<span style=&quot;margin-bottom: 10px&quot;>IBM</span>&nbsp;revenues accounted for 10.9% of the overall ITO revenues.</p><p style=&quot;padding: 0px; margin: 0px 0px 15px; border: 0px&quot;><span style=&quot;padding: 0px; margin: 0px; border: 0px&quot;>Accenture reported the highest revenue growth during the year with 18.2% growth, but trailed peers with a 2.6% market share.</span>&nbsp;<span style=&quot;padding: 0px; margin: 0px; border: 0px&quot;>Forty-three service providers, who collectively grew by 9.5 percent, booked revenues of $1 billion or more during the year.</span></p><p style=&quot;padding: 0px; margin: 0px 0px 15px; border: 0px&quot;><span style=&quot;padding: 0px; margin: 0px; border: 0px&quot;>&quot;For many leading providers in the ITO market, 2011 revenue results demonstrate how challenging simply maintaining a market share position has become, much less gaining share - and this challenge is likely to worsen over the next few years for providers that do not address these forces&quot;,</span>Bryan Britz, research director at Gartner said.&nbsp;</p>

<a href='http://techgig.com/tech-news/editors-pick/Global-IT-outsourcing-market-grows-by-7-8-per-cent-in-Fy-11-12562'>View More</a>