2006-03-13

China's Software Outsourcing Market Expected to Grow with Annual Rate of 50%

China's IT service market is expected to grow at an annual rate of 20.6 percent between 2006 and 2010, the China Economic Times reported.

CCID Consulting, one of the leading market research and management consulting firms in China, released the ''2005-2006 Annual Report on China's Software Outsourcing Industry'' recently. The Report shows that China's software outsourcing market has maintained a high-speed growth for the year 2005, with a year-on-year increase of 45.3% in market volume that surged from US$ 0.633 billion of 2004 to US$ 0.92 billion, contributing to 2.3% of the global market.

CCID Consulting holds that as China's software outsourcing plays a more and more influential role in the global community, demonstrated by its expanding growth in Japan as well as initial presence well established in America & Europe, a continuous rapid development is fairly predicable with a lot more SPs engaged and strategic support from local governments. It is estimated that the market volume of China's software outsourcing will, by 2010, reach US$ 7.028 billion with an annual compound growth rate of 50.2%, contributing to 8.4% of the global market. It is evident that software outsourcing will become a new force to drive China's software industry.

Source: CCID Consulting

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