July 30, 2013
/PRNewswire/ -- Pactera Technology International Ltd. (NYSE: PACT), an IT service provider and one of the leading offshore software development companies in
, recently announced that the Company has been ranked number one among
-based offshore software development vendors for
markets as measured by 2012 revenues, according to International Data Corporation ("IDC").
IDC is a leading global provider of market intelligence for the information technology, telecommunications, and consumer technology markets. The IDC research paper "China-Based Offshore Software Development 2013-2017 Forecast and Analysis" expatiates on the current status of the
-based offshore software development market as well as vendor rankings. According to the study, IDC calculates that the
-based offshore software development market reached
in 2012, an increase of 22.5% over 2011. The market is expected to grow at a 22.3% compound annual growth rate (CAGR) from 2012 to 2017, with business originating from the European and North American markets expected to grow faster at 26.6% CAGR.
According to IDC, Pactera's main competencies include its strong solutions capacity and long-term innovation mechanism. A mature delivery model and strong quality control also ensure a high standard of service to its clients.
Tiak Koon Loh
, Pactera's Chief Executive Officer, commented, "With a market share double that of the next closest competitor, Pactera's number one ranking confirms our position as the leading
-based offshore software development services provider for Western markets. We are devoted to providing our clients with value added services through the innovation of technology, management and strategy. Leveraging our position as the top choice of companies seeking access to the vast talent pool and market growth opportunities in
, moving forward we will continue providing industry leading and highly-secure IT services to our clients around the world. My special thanks extend to our employees worldwide for establishing a long track record of sustainable market leadership, and to a growing list of global clients that have selected us as their key IT services partner."