The use of new technologies that deal with customers lead to mountains of data, making Big Data a thrust area for IT companies. This will grow into greater importance while moving to the Internet of Things (IoT) and when everything gets connected, he added. “We will see greater emphasis on Big Data, which is emerging as a key area of growth and competency. India has emerged as a major centre on this sector.”
Establishing big data laboratories for analytics will be the next major focus area for Global In-house Centres (GIC), or IT captive centres of global companies located in India, according to R Chandrashekhar, President, Nasscom.
Chandrashekar said Nasscom, the IT industry body, itself plans to set up centres of excellence around Big Data and IoT in association with various companies and government. Some of them are expected to come up this year.
According to Chandrashekhar, the GIC market saw a compound annual growth rate of 17 per cent in the last five years to reach $19.4 billion.
Total employee strength of GICs has also increased at a CAGR of 14 per cent to 7.45 lakh. The landscape in India is diverse and dominated by over 1,000 GICs.
Out of the total exports of $99 billion from the IT and business process management industry, the GICs contributed nearly one fifth of it. A number of smaller companies are entering the GIC market resulting in India emerging as a hotbed for ER&D and product development.
With an estimated 300 companies offering ER&D and product development services, particularly in emerging technologies of IoT, robotics, wearable devices and 3D printing, India is poised to become the focal point for GICs across the globe, he said.
Shakthi Sagar, Chair of Nasscom GIC Council said the council has created a ‘vibrant’ ecosystem wherein the GIC companies across sectors are working together to build this sector to the next level. There is also a greater collaboration between GIC and non-GIC companies, he said.
At this year’s conclave, ‘we will identify newer opportunities’ that will leverage capabilities and position India as the hub for GICs from across the globe,” he said.