According to research and advisory firm Gartner, the global Information Technology (IT) spending will hit the $3.7 trillion mark this year, with $1.01 trillion coming from emerging markets. It is also predicted that India will see growth in IT spending. In 2012, it is predicted that IT spending will increase by 9.1% to $79.8 billion.
This can be attributed to enterprises which are investing more on IT systems amidst global financial woes. However, according to a separate report, the US market is now becoming saturated. Two-thirds of the yearly revenues of India’s IT industry come from US companies.
Senior Vice-president and Global Head of Research Peter Sondergaard said firms are getting more interested in IT outsourcing to address challenges or improve certain processes such as customer support, supply chain management, etc. He added that IT has become one of the main processes and functions that companies need to expand nowadays, with more or less 350 companies around the world investing more than $1 billion this year in IT for business growth.