Indian Public Sector Surpasses China to be the Fastest Growing Public Sector IT Market in Asia
[author:Springboard Research Public time:Jul 25, 2006] |
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Singapore & New Delhi– July 26, 2006
Springboard Research, a leading innovator in the IT Market Research industry, today released a study showing that India’s expenditure on IT in the Public Sector will be the fastest growing in Asia. India’s expenditure on IT in the Public Sector is forecast to grow from US$1.4 billion in 2005 to US$2.9 billion in 2009 with a growth rate of 19.6%. This growth rate beats China, the second fastest growing country in Asia, which is expected to have a growth rate of 14.6% during the same period.
The largest segment of spending within the Government sector in India was the Internal Security and Defence sub-vertical, consisting of the entire defence establishment, internal security and public safety agencies, border control and immigration, and intelligence. This sub-vertical accounted for 14.4% of the IT spending in the Government sector, with Public Education having the second largest share at 11.4%. The fastest growing area of IT spending in the Government sector was Government Managed Healthcare with a compounded annual growth rate (CAGR) of 22.1% from 2005-2009.
“India is playing catch up where the Public Sector is concerned, but it is making the key technology investments that are needed to help maintain the high rates of economic growth and to increase the speed and efficiency with which government services are delivered” said Tirthankar Sen, the Research Manager of Springboard’s India Research Centre. “The government understands that heavy investments in technology are needed to help India continue in its efforts to modernize the Public Sector and attract foreign investment.”
Jonathan Silber, Senior Market Analyst- Public Sector for Springboard Research, added, “India is among the lowest ranking countries in Asia for per-capita spending on IT in the Public Sector, but based on the growth rates we are seeing, we feel that India is making the investments needed to increase the efficiency and capability of government services. As the Indian economy continues to post high growth rates, it will be crucial for the government to make sure that technology investments are being made to support this economic growth.”
Springboard found that within IT spending in the Public Sector, spending on Hardware accounted for the lion’s share of expenditure with 60%, followed by IT Services at 23% and Software at 17%. IT Services are expected to be the fastest growing area of IT spending in the Public Sector with a CAGR of 21.9% from 2005-2009.
Contacts
Chris Perrine
Vice President – Business Development
Springboard Research
65-6236-7681
cperrine@springboardresearch.com
Tirthankar Sen
Manager- India Research Center
Springboard Research
91 981068-1717
tsen@springboardresearch.com
Jon Silber
Senior Market Analyst- Public Sector
Springboard Research
65 6236-7694
jsilber@springboardresearch.com
Printed From:http://www.free-press-release.com/news/200607/1153875633.html
Source:Free Press Release
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