SAN RAMON, Calif., Sept. 27 /Xinhua-PRNewswire/ -- Achievo(R) Corporation, the leading global software and information technology outsourcing provider with a local front-end and China back-end service model, today announced it has been ranked by IDC as one of the top three China-based IT offshore software development providers based on 2006 revenues. In addition to pricing advantages, the IDC report cited Achievo management team’s solid experience with multi-national corporations and other overseas companies, and CMMI Level 5 certification. This is the first time Achievo has been included in IDC’s annual analysis of the top China-based offshore providers.
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According to IDC’s China-based Offshore Software Development 2007 – 2011 Forecast and Analysis (Doc #CN221101P, Mar 2007), the China-based offshore software development market reached $1.4 billion in 2006 at a 48.4 percent growth rate over 2005. The market's 5-year compound annual growth rate (CAGR), is estimated at about 37.9 percent and is predicted to increase to $6.9 billion by 2011.
Achievo is ranked third among the top 10 IT vendors in China and is estimated to control 3.3 percent of the total available market share and five percent of the available market share from Europe and North American markets. The 2006 top 10 providers together accounted for 30.7 percent of the total offshore software development revenue in China, amounting to $425.6 million in revenues.
According to IDC, the China-based offshore software development market remained a high-growth market in 2006 at a rate of 48.4% over 2005. The market experienced significant consolidation in 2006. The top 10 providers' 2006 shares together accounted for 30.7% of total China-based offshore software development revenue, indicating an increase of 6.5 percentage points over 2005 and an 88.8% revenue growth. The Europe and North America market will remain a faster-growing market compared with the Japan and Korea markets with a five-year CAGR of 48.6%, much higher than the overall market's. The Europe and North America market will, in fact, be the source of more than 50% of the total offshore software development market revenue up to 2011.
IDC is the premier global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets.
About Achievo
Achievo is a global offshore software and information technology outsourcing provider with a local front-end and China back-end service model. With expertise in diverse technologies including Java/J2EE, .NET and embedded platforms, the CMM- and ISO- certified company offers improved efficiencies, scale, diversification, and a combined talent pool to deliver cost-effective, quality-centric, and scalable IT outsourcing services to customers and partners worldwide. Customers include Accela, Audi, BMO Bank of Montreal, CA, China Mobile, DaimlerChrysler, Hitachi, Honda, Mitsubishi, Nomura, Siemens, Toyota and Vidient. Headquartered in the Silicon Valley, Achievo has offices in the United States, Canada, Germany, China and Japan. For information on the company and its services, visit http://www.achievo.com .
(C) 2007 Achievo Corporation. All rights reserved. Achievo is a registered trademark of Achievo Corporation in the United States and in other countries. All other trademarks are the property of their respective owners.
