Gartner Predicts 7.7% Growth in Indian IT Spending
by: Sarah Joson
Wednesday, October 17, 2012
According to global research firm Gartner, Indiaís IT spending can post a 7.7% increase, reaching $71.5 billion next year, from the $66.4 billion forecast this year.
According to Gartnerís Senior Vice-president and global head of research Peter Sondergaard, India remains bullish and competitive, even with the continuous increase in wage rates. He added that even if the budgets of clients are smaller, IT providers in India are thriving as they are making the most out of alternative sectors and processes.
It is also projected that by 2016, IT spending in India will be subdivided into telecommunications, IT services, and hardware. Telco is seen to become the highest, amounting to $47.8 billion, followed IT services and hardware.
Meanwhile, Partha Iyengar, Head of Research for Gartner India, said for the Indian market, mobile gadgets will still be the fastest growing segment, taking up 42%, and will likewise account for almost 26% of the countryís IT spending.
It was found out through a Gartner survey that CEOs are highly considering investing more on technology as it will become a crucial factor for businesses in the future. CIOs are predicted to create workable strategies that will coincide with the changes in their respective industries and economy.