Chinese offshore software market to grow

Total revenue from China's offshore software outsourcing market will grow fivefold over the next five years and the compound annual growth rate of the market will reach 37.9%, according to a recent report by market research firm IDC.

The report found that China's offshore software outsourcing market continued to grow rapidly in 2006, with total revenue from the market reaching £700m up 48.4% from 2005.

The China-based offshore software development market remained a high-growth market in 2006, expanding by nearly half in a year, and is on course to register similar year on year growth over the next five years.

The market experienced a lot of consolidation in 2006, said Judy Ou, senior analyst, software and services research, for IDC China.

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