Mid-tier information technology (IT) companies lost more ground than their larger peers in the financial year 2023-24 as vendor consolidation deals by clients have led to a decline in revenue growth, as well as on a smaller base.
Yugal Joshi, Partner at Everest Group, said that “mid-tier companies are reliant on key clients as they form a large part of their business. And if anything happens to those clients, it impacts these smaller firms.”
