Sify Limited has been awarded the prestigious Frost & Sullivan Market Leadership Award for IP VPN Markets 2005-2006 for the third consecutive year.
The award was given based on Sify's strong performance in fiscal 2005-06 with its market share in the VPN space in India at 37.2 percent. Sify acquired many important clients in different market segments during the year. The Frost & Sullivan Market Leadership Award also acknowledges Sify's customer orientation, technology capabilities and reach.
On receiving the award, Mr. Raju Vegesna, MD & CEO, Sify Limited said, "We are delighted to be awarded the Frost & Sullivan Market Leadership Award for IP VPN Markets for the third year in a row. The award is, first and foremost, a testimony to the trust our customers place in our services. It is also a strong recognition of team Sify across our technology and enterprise services teams, who have together built our strong market presence with the highest standards of service delivery and technology capabilities. It is our intention to build on these achievements to continue to lead the market with services that are at the leading edge and will enable our customers to use IT for competitive advantage.”
Mr. Alok Shende, Director, ICT Practice, Frost & Sullivan India, said, "The momentum in VPN adoption is strong as ever. Making it to the top of the table for the third year in a row is a feat in itself for Sify, especially, with the market witnessing Telcos playing keener role."
According to Frost & Sullivan, the IP VPN market in India in 2005 was estimated to be at $151.9 Million, a growth of 53.2 percent over the previous year. It also anticipates continuing high growth in the years 2006 to 2011, with Multi Protocol Label Switching (MPLS) driving the IP VPN markets, largely due to an ability to offer frame relay features at lower-costs. Frost & Sullivan expects the IP VPN market to grow at a Compounded Annual Growth Rate (CAGR) of 30.9 percent between the years 2005 and 2011. Frost & Sullivan expects the Indian VPN service market to grow to $213.9 million in 2006 and $764.7 million in 2011.
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