Posted 1/17/2024, 7:33:57 AM
Indian IT Firms See Faster Growth in Europe vs North America in Q3 on Large Deals, But Demand Expected to Rebound in 2024
- Europe outperforms North America for top Indian IT companies in Q3; UK and Continental Europe grow revenue faster
- Large deal wins in Europe, cost-takeout deals drive growth; more uncertainty in North America spending
- Demand expected to return in 2H 2024 calendar year; early signs of bottoming out
- Mega deals in pipeline, but focused on vendor consolidation to optimize spends
- Interest rate cuts in US have little impact so far; unlikely to drive immediate increase in discretionary IT spending