Tata Consultancy Services (TCS) expects significant growth in future across markets like Latin America, India and South Africa that have historically lagged in technology spending. The over $20-billion revenue company is also confident of expanding its play in large markets like continental Europe, Japan, Australia and New Zealand as it launches new services, products and platforms.
“…our share even in our largest markets is still in low single digits. We are only scratching the surface yet in large markets like continental Europe, Japan and Australia New Zealand. Market penetration will be a growth driver in the coming years,” TCS Global Head (Business and Technology Services) Krishnan Ramanujam said in the company’s annual report for 2018-19.
He added that emerging markets like Latin America, India and South Africa — which have historically lagged in technology spending — will see enterprises leapfrog into the ‘Business 4.0’ era and start spending. Last year, TCS had introduced its ‘Business 4.0’ strategy — a thought leadership framework to help customers leverage digital technologies.