Wednesday 29 February 2012

Market for IT training in India Bears Huge Growth Potential

The market for IT training services is estimated at billions of dollars a year, with the turnover in Asia/Pacific region growing at a tremendous pace, where India is undisputed leader. IT training in India stood at $700 million in 2010, according to reports by Gartner. Inc. The local market for IT training services is growing, boosted by a fast-developing economy that is expanding rapidly and where the demand for high-qualified personnel is on the rise. In addition, the country is able to export IT training services to the outside world, with numerous service providers taking advantage of modern online technologies to offer distance learning courses to interested customers around the world.

The main driving forces behind such a growth have their roots in the fast rate at which economies in the region are developing, forcing a rapid modernization of the entire business environment and business practices, including a shift to technology-based economy. Moreover, the market for IT training services in India is approaching the $1 billion mark but there is also a huge growth potential behind these figures because the country needs even more skilled IT personnel than it is able to educate at the moment. Not that India lacks reputable educational institutions in the field of information technology but the economy is expanding so fast that the gap should be filled through numerous IT training courses available in the market, both in-class and online.

The emergence of reliable online technologies and means of communication helped Indian companies in entering the global market for IT training services. A combination of high quality, skilled IT trainers, and lower costs positioned India-based providers of IT training services on the top of the list of the most demanded service providers worldwide. A good number of American corporations also entrusted Indian suppliers of training services to train their employees online, giving a further boost to this IT service market segment.

India wisely invests in knowledge-based economy while the country is able to provide advanced services at affordable price due to the relatively low payroll costs, even in a field like information technology, where the wages are considered to be higher than the average.

Although the local market is still underdeveloped, thus offering good growth opportunities, a fair number of India's IT training companies specialize in outsourced services, looking for customers abroad rather than relying on the local market to expand their business. Those are usually enterprises based in the leading metropolitan areas where high-educated people tend to reside and where access to the required infrastructure is easier.

In spite of its current size and rapid pace of growth, the IT training in India still bears huge growth potential for both locally-focused and companies looking for international business.

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