IT spending in India expected to grow 8% in 2021: Gartner report

15 Jul 2021 CW Team

According to a report by Gartner, information technology (IT) spending in India is expected to grow at 8% to $92.7 billion in 2021.

Gartner said that the increase at 8% is a shade less than the world average of 8.6%, adding that global spending on information technology is expected to come at $4.2 trillion.

In India, the overall IT spending growth decreased to 1.5% to $85.865 billion in 2020, probably hit by the ongoing pandemic.

According to Gartner's report, in 2021, enterprise software will be the most significant growth area, and growth in spends is anticipated to be maintained at 16.9% to $9.218 billion.

The analysts estimated that after a de-growth of 5.9% in 2020, the largest spend category of devices will notice a 7.6% growth to $38.747 billion in 2021.

IT services will record a 10.7% growth to $18.103 billion in 2021, as compared to a 3% growth in 2020.

After an 11.4% de-growth in 2020, spending on data center systems is expected to increase by 3.4% to $2.706 billion in 2021, while the growth in communications services will slow down to 4.3% to $23.979 billion, as compared to a 10.9% increase in 2020.

Senior research director at Gartner, Naveen Mishra, said that the second wave of the pandemic has brought a notable sluggishness during most of the second quarter of 2021. However, demand is observing a speedy recovery across the majority of the sectors.

As per the estimates, IT spending is anticipated to grow 6.4% to $98.645 billion in 2022.

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Also read: Jharkhand govt approves Industrial and Investment Policy 2021

Also read: Consumer digital economy of India to reach $800 bn by 2030: RedSeer

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