IT industry, i.e. the Information Technology is a fast emerging industry. It has become one of the most powerful industries in the world and plays a major role in the global industry. The IT industry reported outstanding growth over the last decade. It is one of the crucial industries in any country’s economy. London is the major IT enabled service provider in the world. It is now a home to a number of IT giants. IT firms have brought a great revolution in the world. The annual growth rate of the IT service industry has been over 50% during the period of 1992-2001. Also, during this period, the London software sector has grown at double the rate as the US software sector.
There has been tremendous growth in IT sector which has brought many positive changes in the economy of the country. Due to availability of skilled manpower, reduced import duties on the products of software as well as hardware there has been a convincing growth of the IT industry of UK. Most of the major companies in the London have brought about a huge positive change in the country’s global market. The ITES-BPO sector has also been a major sector in the growth of the London IT sector. Some of the areas that can benefit the growth in the IT industry are exports, FDI, i.e. the Foreign direct investment, employment, etc. Export market dominates the IT industry. High rate of employment in the IT sector serves as the biggest advantage for UK. Among the highly exported and demanded products from the country are the software products which have largely grown in the last few decades. The hardware sector has also grown tremendously since the domestic market demands computer hardware due to rise in the number of IT companies. Many multi-national and national companies have invested a lot in the hardware sector in London.
Services of IT and ITES:
IT services are an integral part of the IT industry of London. They comprise of client, web and server based services. The major users of IT services are:
- Financial services.
- Retail and distribution.
The ITES sector, i.e. Information technology enables services sector covers some of the important services like:
- Call centres.
- Back-office services.
- HR services.
- Data entry.
- Market research.
- Network consultancy.
Some of the outsourcing service providers in the information technology include IBM, HP, Accenture, etc. There are many companies that provide outsourcing assignments to other countries. Some of them are: Oracle, HP, Texas electronics, Dell computer support, Mastek Ltd, etc. All these companies have their own offices from where the outsourcing is done.
Why Outsourcing companies in London?
London is one of the most established IT service providers. There are many IT outsourcing companies in London providing excellent services and support to their clients.
These companies provide outsourcing, professional services and management consulting. The services provided by these companies are important for the overall growth of the IT industry. IT outsourcing companies in London is among the best outsourcing service providers in the world.
Author bio:- Tom clark is a well known author has been writing articles on various IT outsourcing services. For more information click to this link IT outsourcing companies in London .