Services firms growing fastest in IT pack: Deloitte

Deloitte Fast 50 program shows cloud, mobility, analytics enabling faster growth for Indian IT firms

Information technology services companies continue to see fastest growth in the IT pack, backed by new technologies such as cloud, analytics and mobility, Deloitte Touche Tohmatsu said based on the findings in its annual Technology Fast 50 program.

“With software, IT services remain dominant with a significant representation of companies helping enterprises in mobility and web enabling which is in sync with a key finding of Deloitte Technology Predictions India that there would be a surge in enterprise application development specifically focused towards web and mobility enabling of businesses,” Deloitte said.

IT services providers are followed by companies operating in the internet space. While the internet segment is “still evolving”, Deloitte said, it is increasing its share among the fastest growing IT companies in India.

Deloitte also observed that cloud, analytics, social media, security and mobility are the top new trends in the Indian IT space.

The Deloitte Tech Fast 50 is an annual program organised by the professional services firm, which recogonises 50 fastest growing technology companies in India, based on percentage revenue growth over the last three financial year. Deloitte invites participation from all India-headquartered companies with a minimum revenue of Rs 5 crore that have operations relating to IT.

In the ninth edition of the programme, Deloitte this year received around 145 applications as against around 130 about a year ago.

“This edition has a large share of winners who have entered into the growth state of Rs 10-50 crores from their early stage base revenue number. This bodes well for the sector as we may witness a set of new star performers in the tech segment over next two to three years,” Deloitte said.