Final week, Accenture reported important development in outsourcing and consulting offers, with complete new bookings value $16 billion within the quarter to February.
Analysts counsel this might imply a robust deal pipeline for these Indian IT providers corporations which have constructed capabilities in digital technology-led providers.
Accenture deal bookings and efficiency present that there was a big improve in demand and firms notice they want digital channels, enterprise fashions and monetization. For Accenture all these components have performed a key position in bookings development, mentioned Ray Wang, chief analyst, Constellation Analysis.
“I see the identical occurring for the companies which have constructed sturdy digital practices and have the flexibility to cross-sell into accounts. There’s plenty of demand for cybers, cloud, AI, however digital (transformation) is a key driver,” he mentioned.
The market is about for a robust yr forward, mentioned Peter Bendor-Samuel, chief government of IT advisory agency Everest Group.
The highest 5 Indian IT providers companies – , Infosys, , , – have reported sturdy efficiency through the third quarter (October-December), with Infosys main the pack, signing $7.13 billion value giant offers through the interval.
IT analysis agency Gartner mentioned in a forecast in January that worldwide IT spending is projected to complete $3.9 trillion in 2021, a rise of 6.2% from 2020.
“We see the general market set for a robust yr with nearly each sector prone to do nicely,” mentioned Bendor-Samuel.
One of many key components driving that is that companies need to transfer away from experimentation post-Covid-19 and deal with giant digital programmes that may ship substantial enterprise worth rapidly, he mentioned.
“Additionally it is going to be a yr of massive contracts… These giant offers add to the aggressive dynamic,” Bendor-Samuel added.
ICICI Securities, nonetheless, wrote in a report that the trade wants to observe whether or not there could be consolidation.
“Whereas Accenture’s current energy in outsourcing has typically been perceived because the lead indicator for Indian IT by consensus, it must be seen whether or not it’s coming on the expense of market share consolidation,” mentioned Sudheer Guntupalli and Hardik Sangani within the report.
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