Indian IT spend to grow 6.3 per cent at $110.6 billion in 2022
Indian IT spending is likely to grow at a healthy rate of 6.3 per cent to reach $110.6 billion in 2022 despite the geopolitical uncertainty, high inflation, and shortage of manpower, global consultancy firm Gartner said in a report.
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Bengaluru, 9 April Indian IT spending is likely to grow at a healthy rate of 6.3 per cent to reach $110.6 billion in 2022 despite the geopolitical uncertainty, high inflation, and shortage of manpower, global consultancy firm Gartner said in a report.
The growth forecast for India has been revised from the earlier estimate of $105.2 billion on the back of growth in devices last year.
"In 2022, along with devices, Indian CIOs and business leaders will continue to increase their spending towards analytics, artificial intelligence, machine learning, customer experience and cloud," said Naveen Mishra, senior research director at Gartner.
Among various segments, Indian IT spend on IT services is forecast to touch a total $19.7 billion in 2022, a growth of 8.6 per cent from last year.
After a year of robust growth, global IT spend is also likely to grow 4 per cent to total $4.4 trillion in 2022.
Software spending is expected to grow 9.8% to $674.9 billion in 2022 and IT services is forecast to grow 6.8% to reach $1.3 trillion globally.
"Geopolitical disruption, inflation, currency fluctuations and supply chain challenges are among the many factors vying for their time and attention, yet contrary to what we saw at the start of 2020, CIOs are accelerating IT investments as they recognize the importance of flexibility and agility in responding to disruption," said John-David Lovelock, distinguished research vice president at Gartner.
The global consultancy firm noted that the rise of enterprise application software, infrastructure software and managed services in the near and long term demonstrates that the trend towards digital transformation is systemic and long-term.
