India IT services market forecast from IDC

Research agency IDC has released the latest forecast on Indian IT services market for 2018.
IT services market in H1 2018
The India IT & Business Services market is expected to achieve a growth rate of 6.9 percent in 2018 to reach $12.9 billion, and 7.9 percent in 2019 to touch $13.9 billion.

IT Services, which accounted for around 78 percent of the IT & Business Services spending in 1H 2018, is expected to grow at 6.9 percent year-on-year to reach $ 9.9 billion for the full year 2018.

Security services gained ground in 1H 2018 due to cyber threats and is forecasted to grow at a CAGR of 20.7 percent between 2017-22.

IDC estimates that the IT Services market will grow at a CAGR of 8.2 percent between 2017-2022, to reach $13.7 billion by the end of 2022.

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