BEIJING, Aug. 1, 2014 /PRNewswire/ — Pactera Technology International Ltd., a global consulting and IT service provider headquartered in China, announced that the company’s offshore software development services rank No.1 among all China-based offshore IT service providers based on revenue, according to 2013 world market offshore software development vendor rankings released recently by International Data Corporation (IDC), a globally recognized market research, analysis and advisory firm specializing in information technology, telecommunications, and consumer technology.
This is another major breakthrough of Pactera on offshore software development services since the company ranked No.1 among all China-based offshore IT service providers for the European and American markets.
According to IDC research paper “China-Based Offshore Software Development 2014–2018 Forecast and Analysis” the China-based offshore software development market reached US$5.93 billion in 2013, at a 17.4% year-over-year growth rate. The market is expected to grow to US$13.2 billion in 2018, with a five-year compound annual growth rate (CAGR) of 17.3% for 2014-2018. The report shows that the US, Western Europe and Japanare the major import countries and regions, with cost savings, resource integration and innovation support being primary the motivations.
IDC industry analysis suggests there will be five major trends in the future global outsourcing service development including: ICT third platform technologies represented by cloud computing, big data, mobility, and social networking, driving service outsourcing; flourishing cloud delivery models; operations department-led industry integration; a drive towards differentiation and innovation; and mergers and acquisitions driving global delivery.
“As the offshore industry leader in the Asian-Pacific region, Pactera’s fast-growing market share has substantiated these five trends,” commented Tiak Koon Loh, Pactera Chief Executive Officer. He also said Pactera’s contrarian growth against a global environment of sluggish economic growth is an outcome of taking the initiative to meet challenges, and highlighted that it proves Pactera’s leading position in offshore services in the Asian-Pacific region has gradually been consolidated and recognized by global clients.
The Pactera CEO then pointed out that Pactera’s rapid growth of global market share is closely related to the company’s major strategies such as privatization, strategic transformation and innovation-driven capability enhancement.
“Pactera has improved its value delivery through SMAC (Social, Mobile, Analytics and Cloud) strategy. We have helped clients from traditional industries to transform through innovation. We have also improved service deliverability and extended geographic coverage in Europe, North America, and APAC through mergers and acquisitions,” Tiak continued. “More importantly, Pactera has a strong advantage and growing market share in the fast-growing global R&D design service segment market because of outstanding technological innovation capabilities.”