Amongst the larger companies ( above $1B) the growth rate of 18.4% that we see is an anomaly that stems from one outlier- the merger between Stream Global Services and eTelecare. Read the growth rate here as a very modest 3.5 %. Such a growth rate comes on the back of a few of the vendors posting above industry average growth rates (XChanging, Wipro, HCL Technologies), a few of them posting single digit growth figures (Genpact, TCS, Infosys, NCO, CSC, CGI) and a few of them posting declines in revenues.

  1M-10M 10M-100M 100M-1B 1B+
North america 60 62 52 57
Latin/South America 4 5 7 5
EMEA 18 25 29 27
Asia 14 7 9 10
Japan 1 0 1 0
Australia 3 1 2 1

The geographical revenue splits for companies across all categories are nearly uniform. It shows that North America continues to be the most important market followed by Europe. Asia and Latin America are emerging markets partly due to local companies serving the domestic market ( and many of them are represented here) and the rest due to large companies by foreign companies. For example, a Chinese provider like Neusoft handling the domestic Chinese market or an IBM Global Services handling strategic outsourcing for an Indian bank would have higher revenues in Asia.

Despite being the largest market, the share of North America in 2009 has come down from what it was in 2008. This is due to the combined effect of the relative but temporary softness of the US market and the geographic de-risking strategies employed by service providers. Especially, many of the Indian vendors ramped up focus on the European market (which in 2009 seemed more stable) because of the softening of demand from US financial services segment and the mid-year rupee-dollar fluctuations. 

Top 5 Fastest Growing Companies - $10M to $100M

No. Company Country
1 Bleum Inc. China
2 Corbus USA
3 Transactel S.A Guatemala
4 eClerx Services Limited India
5 Globant Argentina


Top 5 Fastest Growing Companies- $100m- $1B
No. Company Country
1 Hildebrando Mexico
2 Aegis Limited India
3 CPM Braxis Brazil
4 VanceInfo Technologies China
5 ITC Infotech India


 
Notes:

  1. Company revenues and revenue growth rates are not published as per GS100 survey guidelines. Revenue growth rates reflect both organic and inorganic growth but excludes internal reorganization of business units that may lead to an upsizing of the company.

  2. Fastest growing companies are listed for company sizes $10M-$100M and $100M-$1B only because revenue growth in these two categories are better evidence of companies’ quest for growth. 

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