The second quarter of FY22 continued to show double-digit growth for the top four IT services providers, with every vertical and geography growing well, even though the total contract value (TCV) looked soft for all the players.
Peter Bendor-Samuel, CEO at Everest Group, states that large deals are not off the table, but that the market is focused elsewhere, and those that do exist are being shared by more firms. He also says that deals are getting competitive, but what is a factor this time around is the market timing and the demand-supply mismatch.
