Fueled by the robust demand for systems integration and IS outsourcing
services, and growing at a 2001-2006 CAGR of 28 percent, Korea looks set to
overtake Australia as the largest IT services market by 2005. Specifically,
services firms targeting the banking, communications and media, government and
discrete manufacturing sectors will drive the APac (excluding Japan) IT services
market, which will grow at a CAGR of 21 percent to reach US$38.8 billion in
2006. This was revealed recently by an IDC report.
"Besides the traditional services powerhouses of Australia and Korea,
the investment and development of Chinese companies, especially as a result of
China´s entry into WTO and sustained business interest in Asia´s fastest
growing economy, will see China speed up to being the third largest IT services
market in a year," says David Yew, Program Manager, IT Services, IDC
Asia/Pacific.
The report highlights the dynamic nature of the market from 2001 to 2006.
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