|Software & Information Technology ►
The Information Technology sector single handedly places India on the global map. Today it is a sector globally recognized for its strength and potential.
The National Association of Software and Service Companies (NASSCOM) is the apex body for software services in India. As per its ‘Strategic Review 2010' published in February 2010, the India IT-BPO industry is estimated to aggregate revenues of US$ 73.1 billion in FY 2010, with the IT software and services industry accounting for US$ 63.7 billion of revenue. Moreover, the Indian information technology market is expected to grow at around 15.5 per cent in 2010, on the back of growing investor confidence and favourable initiatives taken by the government.
One of the biggest growths in the IT sector was with IT enabled services. As per NASSCOM's findings published in March 2009, Indian IT-BPO sector grew by 12 per cent in FY 2009 to reach US$ 71.7 billion in aggregate revenue (including hardware). Of this, the software and services segment accounted for US$ 59.6 billion.
In Canada about 31,500 companies comprise the Information and Communications Technologies sector, of which 78.6% are in the software and computer services industries and 10.6% in the wholesaling industries. Within the software and computer services industries, over 94% of the companies specialize in computer systems design services. Total revenues generated rose by 19% between 2002 and 2008.
With the highest levels of broadband penetration and the lowest overall communications costs of almost any country in the world, it’s not surprising that Canada has an edge over its competitors when it comes to software development. Canada’s software advantage starts with its world renowned work force and mature, technologically advanced telecommunications infrastructure that provides the backbone for all technology businesses.
Canada also boasts of its strengths in Digital Media. Canadian companies are global leaders across the entire gaming value chain – from tools development to gameware development. Canada’s world class wireless companies have built a reputation for excellence in infrastructure, data-centric devices, enablers, middleware and applications. With its high-talent, low-cost labour force, R&D advantages, smart regulations and centres of research excellence, Canada remains a rewarding location for enterprising investors.
In India too, digital technology has changed the entertainment sector considerably. Internet has emerged as the latest revenue stream and has become one of the fastest growing advertising medium.