Indian tech companies up global market share, IBM hit mostly

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Bengaluru, Feb 20: Leading Indian IT firms’ share of revenue has increased as a proportion of the total revenue of the top tech services companies in the world.
IT advisory firm Everest Group helped TOI look at 10 of the biggest global companies. Among the Indian heritage companies, Cognizant grew its share the most in the past five years, from 6.3% to 8.5%.
TCS, HCL Technologies, and Infosys also improved their shares smartly. Tech Mahindra grew, but less so. Wipro was the only one that did not grow. It went up a little in 2015, but last year, it was back at the 2014 level.
Among all companies, Accenture did the best, with its share rising from 18.9% to 21.6%. In 2018, Accenture added more revenue than TCS, HCL, Cognizant, Infosys, and Tech Mahindra put together. At the other end, IBM’s global services performed the worst, dipping from 34% to 25.6%. In fact, it can be said that the companies that increased their market shares did so largely at the cost of IBM, which has seen its revenues falling.
Capgemini, despite its heavy investments in its India operations, has seen its share among the 10 stagnating. In fact, it dipped in 2015 and then remained steady at that level. Capgemini’s French counterpart Atos’ share rose a little.
Jimit Arora, who leads Everest Group’s IT services research practice, said the segmentation between Indian heritage and multinational companies is no longer relevant to clients as, across the board, the companies can offer capabilities globally.