IDC is a leading global provider of market intelligence for the information technology, telecommunications, and consumer technology markets. The IDC research paper "ChinaâBased Offshore Software Development 2010â2014 Forecast and Analysis" expatiates on the current status of the China-based offshore software development market as well as vendor rankings. According to the study, IDC calculates that the China-based offshore software development market reached US$2.8 billion in 2009, an increase of 14.7% over 2008. The market is expected to grow at a 22.4% compound annual growth rate (CAGR) from 2009 to 2014, with business originating from European and North American clients expected to grow faster at 28.4% CAGR.
âThe China-based offshore business has developed through the years, and is now a fast-growing industry. With the establishment of outsourcing cities, or demo cities, which was supported by government policy, China has become the number 2 software offshore outsourcing country, next to India, and there are lots of companies that have built up their worldwide branding and enhanced their capability.â says Paul Li, Senior Market Analyst, Software and Services, IDC China.
Chris Chen, Chairman and Chief Executive Officer of VanceInfo, commented, âThe third consecutive #1 ranking is a strong reinforcement of VanceInfoâs position as the top China-based offshore software development company for North American and European markets. It further validates that we have the scale and capability to be the top choice of customers. In addition to thanking our employees for contributing to healthy growth during these challenging economic times, I would also like to give special thanks to the growing list of clients worldwide that have selected us as their primary IT services provider. We will continue to strive for achieving more top honors in the years to come.â