India, Dec. 3 -- The India IT & Business Services market is likely to grow annually by 6.9% to US$ 13.3 billion* by December 2019, according to the International Data Corporation (IDC) Worldwide Semiannual Services Tracker - 1H19. IDC forecasts that the IT & Business Services market is further expected to grow annually by 6.8% to be valued at US$ 14.2 billion by December 2020.

The IT Services market contributed 77% in 1H19 and is further expected to expand to US$10.2 billion by December 2019, growing at 7.2% annually. IDC further expects that the IT Services market will grow at a CAGR of 8.2% between 2019-2023, to be valued at US$14.0 billion by the end of 2023.

IDC classifies the IT Services market into three Primary Markets - Project ...