Linux and Technology blog

August 7, 2006

India targets US$225B offshore engineering market

Filed under: News, Software — rakeshvk @ 6:44 pm

Indian IT companies are targeting a US$225 billion market in engineering services as the next big driver of growth for the offshore outsourcing industry.

Worldwide spend on engineering services is predicted to grow from US$750 million in 2004 to US$1 trillion by 2020, according to a report by Indian IT trade body Nasscom and Booz Allen Hamilton called Globalisation of engineering services – the next frontier for India.

Of that total US$1 trillion spend, around US$150 billion to US$225 billion is expected to be on offshore engineering services and India claims it is in a position to claim a quarter–about US$40 billion–of that market.

Last year India had a relatively small 12 per cent share of the US$10 billion to US$15 billion offshore engineering services market. >>>>

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