According to the research carried out by firm Gartner, the current global majors like IBM, EDS and Accenture are facing a major risk, if Tata Consultancy Services (TCS), Infosys Technologies and Wipro Technologies emerge as the nextgen IT service meagvendors.

Gartner said, “These (Indian) vendors are increasingly being considered for strategic service deals, and will augment or, in some cases, replace today’s acknowledged megavendors by revenue in this space by 2011.”

The report by Gartner said that the top Indian IT firms have defeated the megavendors by almost a 3:1 margin in growth rates.

Gartner VP Partha Iyengar, reported, “The emerging megavendors have more than doubled their revenue in a four-year period, with the 2007 revenue being 2.6 times the 2004 revenue.”

Process excellence, world-class HR practices, providing high quality services at low cost and achievement of significant and disproportionate ‘mind share’ compared to their actual size, are the four critical competencies which has led to the sudden emergence of such potential megavendors.