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Fundamental changes in the drivers of the IT consulting market
September 30, 2008
IT Consulting Demand Drivers Have Changed, Enabling Growth to Buck Economic Trends
Joint Research from Everest & Bernstein Analyzes Shifts in Value Proposition
DALLAS, September 30,
2008 ─ Fundamental
changes in the drivers of the IT consulting market have ushered in a new market
paradigm – manifested by healthy demand, lessened economic sensitivity, and
central roles for globalization and offshoring.
The shortage of IT talent in developed countries and the growing
sophistication of offshore IT labor markets are supporting healthy growth in
the IT consulting market, according to a market analysis and survey of 15 IT
consulting companies by the Everest
Research Institute and Bernstein
Research.
The IT
consulting market, estimated at US$104 billion, has shifted its value
proposition to meet growing needs of vertical industry buyers seeking solutions
for business changes, regulatory issues, access to new technologies, and heightened
needs for specialized talent, according to the study, Reading
the Alphabet Soup: SI, PI, ERP, etc. – The Changing Drivers of IT Consulting.
Rod Bourgeois, Senior Analyst of Bernstein Research, argues, “In the past, killer software applications and the economic cycle were the primary drivers of IT consulting demand, but our research has emphasized that today's consulting market is characterized by lessened economic sensitivity and supported by a diverse set of demand drivers that vary substantially by industry vertical.“
The Everest-Bernstein research of the IT consulting market analyzes
these shifts in demand drivers and details findings from interviews and
profiles of 15 consulting companies surveyed for the study: Accenture, Atos Origin, CSC, Cognizant, EDS, Perot Systems, Genpact, HCL, Infotech,
Patni, Sapient, Satyam, Softtek, TCS, and Wipro.
“As a result
of globalization, offshoring is assuming increasing significance for specific
IT consulting tasks, said Ross Tisnovsky,
Vice President, IT Outsourcing Research, Everest Research Institute. For
example, to provide ERP implementation support activities, suppliers have
engaged IT talent available in low-cost geographies like