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Service Oriented Architecture (SOA) market in India is expected to grow at a Compounded Annual Growth Rate (CAGR) of 49 per cent from 2006-2009, making it the fastest growing market in the region, as per the Springboard Research report 'SOA in Asia Pacific- Towards More Business Friendly IT'.

Indian companies have one of the highest awareness levels of SOA and its benefits in the region. However, despite a much higher awareness of SOA in India, the number of companies planning to deploy SOA is less than that in China where the awareness is much lower, the report read.

"It is not surprising that India’s pools of IT literate professionals understand the latest technologies in the market such as SOA. Often however, their efforts to implement new technologies are held back by management teams less familiar with the latest technologies or how they can benefit business results," said Ravi Shekhar Pandey, Senior Analyst at Springboard Research.

Added Dane Anderson, Vice President of Research for Springboard Research, "Although the Indian market is still in the nascent stage, large organisations in banking, manufacturing and telecommunications are beginning to plan enterprise-wide SOA deployments. A majority of the market-leading companies and those with global ambitions are more actively considering SOA than their less ambitious counterparts. The government sector is also showing keen interest in deploying SOA."

In line with other regional markets, IBM leads the SOA marketplace among Indian enterprises in terms of actual implementations, brand perception and the proportion of planners intending to partner with IBM for its SOA implementations. In terms of brand perception and preferred brands among SOA planners, Oracle, BEA and Tibco emerge as other important brands in the country, the report said.

According to the report, Indian system integrators providing offshore services and local ISVs have also been quick to include SOA in their business plans. IT service providers like TCS, Infosys, Wipro, Ramco Systems, Satyam, HCL Technologies, Polaris Software, Cognizant Technologies, and Patni Computers besides a host of other small and mid size firms are building SOA capabilities.

A number of ISVs are working with SOA platform vendors to add SOA capabilities to their applications, and many are developing new applications based on SOA frameworks. Global vendors like IBM and HP have also established SOA focused facilities in India to improve their standing in the market, the report said.