Indian IT Services market grew 8.1% during the first half of 2022: IDC

The IT services market grew by 8.1% in the first six months (H1) of 2022, compared to the 7.3% growth in the same duration last year, according to the International Data Corporation’s (IDC) Worldwide Semi-annual Services Tracker. The Indian domestic IT and business services market was valued at $7.15 billion and recorded a 7.4% year-over-year (YoY) growth compared to 6.4% in H1 of 2021.

IT services comprised 78.5% of this value. The higher growth rate is due to the continuing rise in digital transformation investments among Indian enterprises.