According to Everest Group, Europe has become the largest global IT outsourcing market overtaking the US at the end of the quarter ended September 2013.
Europe leads the global IT outsourcing market with a market share of 43 per cent, followed by the US with a market share of 35 per cent. During the quarter under review, Europe witnessed two big IT outsourcing deals, valued at $1 billion and above. There has also been an increase in the number of new captive units in Central and Eastern Europe as a result of aggressive incentive packages offered by Central European governments. The global IT outsourcing market in Europe was also driven by a large number of service providers setting-up new capacity in Tier-II markets.
The share of India-based IT service providers (TCS, Cognizant, Wipro, Infosys, Tech Mahindra, HCL, EXL, Genpact, WNS) has increased to 55 per cent in the US IT outsourcing market as against 28 per cent in the European market (compared to global providers ? Accenture, IBM, Capgemini, Atos, Aon Hewitt, Convergys, CSC, Dell, Xerox, HP, Unisys).
