A ONCE-IN-A-DECADE opportunity.” That’s how Rajesh Gopinathan, CEO and MD, Tata Consultancy Services (TCS) describes the current robust demand environment for information technology (IT) services. Not since the 1990s has the sector witnessed such a boom period. From a nascent industry worth about $150 million in 1991, the IT industry exploded to top $5.6 billion by the turn of the millennium. Two decades later, they are back at it. The top four—TCS, Infosys, Wipro and HCL Technologies—are set to clock double-digit revenue growth this fiscal. Their deals pipelines are overflowing, with strong demand in emerging areas such as cloud computing, artificial intelligence (AI) and cybersecurity, amid an across-the-board digitalisation drive in the post-pandemic world.
Consider this. The global market for technology and business services jumped 40 per cent between July and September, the fastest quarterly growth in at least seven years, according to data from technology research and advisory firm Information Services Group. In fact, ISG has doubled its 2021 forecast for managed services growth to 10.1 per cent since the start of the year, and lifted its forecast for cloud services growth to 25 per cent from 18 per cent.
This is a result of the ongoing structural shift in the way businesses globally are operating since the pandemic. For example, while the education and retail sectors are accelerating their digital transformation, hotels and airlines are adopting contactless check-ins. Businesses are increasingly migrating their data to the cloud. This is causing a spike in demand to build new business models using data science, cybersecurity and AI. And forecasts are constantly being revised.
هذه القصة مأخوذة من طبعة November 28, 2021 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 28, 2021 من Business Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Haute Couture in the Kitchen
FASHION BRANDS ARE ENTERING THE RESTAURANT SPACE, AS FOOD SEEMS TO HAVE BECOME THE ULTIMATE FASHION STATEMENT
It's Personal
Mixing work and personal tasks on work machines may be a done thing for many, but it makes sense to have a dedicated device for your personal needs. Here are two such devices
INTO THE BLUE
For WTiCabs Founder and CEO Ashok Vashist, scuba diving is not just an adventure sport. It is a pathway to connect with the ocean
"Challenges are opportunities"
AMIT JAIN CO-FOUNDER & CEO CARDEKHO GROUP CarDekho Group is a digital automotive solutions provider
THE WAIT FOR HIGHER PENSION
ALMOST 18 MONTHS AFTER THE SUPREME COURT RULING, SUBSCRIBERS WHO OPTED FOR A HIGHER PENSION UNDER THE EMPLOYEES' PENSION SCHEME CONTINUE TO WAIT AS THE EPFO, FACING A STAFF CRUNCH, TRIES TO FIGURE OUT THE MATH
"It's possible to have a 25% growth out of India from now on"
Rail Europe Executive Chairman & CEO Björn Bender talks about the India market, the shift to digital, and the way ahead
Evolving Strategies
Companies need to adapt to changing times for a strong workforce
PERKS PRESSURE
IT'S NOT JUST ABOUT THE MONEY ANYMORE FOR EMPLOYEES. FROM FOUR-DAY WORK WEEKS, TO SKILLING ON THE JOB AND MENTAL WELL-BEING EXERCISES, COMPANIES ARE OFFERING A HOST OF BENEFITS TO RETAIN TOP TALENT. IS THIS ENOUGH?
FOSTERING PLURALISM
Axis Bank, with its initiatives and policies, is striving to make a holistic difference to people's careers and hone their skills too
In Keeping With The Times
With a slew of initiatives for its employees, Abbott India is working hard to build a diverse and inclusive workforce