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.
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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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