The IT giant sees Asia as a $1 billion market in the next few years for the company. The company is investing heavily in Australia and Japan and is gazing at the opportunities in China.
Cognizant is a Teaneck, New Jersey-headquartered IT company and it occupies its place in the list of those few large IT companies that are providing a public goal for Asia business.
Rajeev Mehta the president of Cognizant was attending investor conference in US late last week where he said, “Asia is the next $1 billion market for us in the next couple of years. We have invested strongly in Australia and Japan in the Asia markets. We are looking into China. I think those will be big markets for us.”
Of late, the company has been focused on diversifying its revenue streams and it has started to pay off. It is now getting a significant revenue from its operations in Europe and has decreased its dependence on North America alone. After going through acquisitions to bolster its presence in Europe, now the company is eyeing towards the geographies both in Asia and Latin America.
Given that the company doesn’t have sizable business propositions within India which is a dominant geography in the Asian region, this goal of cognizant seems ambitious.
Sharing his views on the statement of the company, an analyst with a Mumbai brokerage said, “Asia Pacific is a fast-growing market. IT firms cannot ignore it. In the past, with the fast growth in North America and the opportunity in Europe, they have not paid much attention. But they are starting now.”
Only a few Indian IT companies have succeeded in breaking into the domestic China market at a good scale and it will be interesting to see how Cognizant will function in this regard.