Pent up demand for professionals services caused by the backlog of delayed IT projects is not enough to stimulate significant growth in IT services, with analyst Ovum insisting that pre-recession growth rates will not return until 2013.
Growth of 4.4 per cent during the next four years will see spending hit 756 billion dollars, with the recovery beginning “in earnest” in 2013. However, costs will continue to drive IT decisions in the near future, with outsourcing predicted to be the main benefactor of the spending recovery.
The top three IT service providers in terms of revenue – IBM, HP and Fujitsu – have remained unchanged according to Ovum, yet the biggest growth is being recorded by Indian business process outsourcing specialists such as Infosys, Wipro and TCS.
