The domestic IT services market in India is estimated to grow from $5.7 billion in 2008 to $12.8 billion in 2013, which represents a Compound Annual Growth Rate (CAGR) of 18.6 percent, says a study. According to a study conducted by IT research firm Springboard Research, the vertical would be heavily dominated by infrastructure services, which are expected to reach $7.2 billion in 2013, while applications services, with a CAGR of 19.6 percent would be the fastest growing segment. In terms of industry verticals, Banking, Financial Services and Insurance (BFSI) leads the Indian IT services market with 21.5 percent market share, followed by the public sector (including education) and telecom industry.

Excerpt from:
Future of Indian IT Industry 2012 2013