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

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

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.

Image Source


Also read: Jharkhand govt approves Industrial and Investment Policy 2021

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

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. Image Source Also read: Jharkhand govt approves Industrial and Investment Policy 2021 Also read: Consumer digital economy of India to reach $800 bn by 2030: RedSeer

Next Story
Infrastructure Energy

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..

Next Story
Infrastructure Energy

ONGC To Invest Rs 8.11 Billion In Andhra Onshore Oil, Gas Project

The Oil and Natural Gas Corporation Limited (ONGC) is set to invest Rs 8.11 billion for the onshore development and production of oil and gas from 172 wells across eight Production Mining Licence (PML) blocks in Andhra Pradesh.A committee under the Ministry of Environment, Forest and Climate Change (MoEFCC) has recommended environmental clearance (EC) for the project during a review meeting held last month.According to the Expert Appraisal Committee (EAC) minutes, the total project cost is estimated at Rs 8.11 billion, with a capital allocation of Rs 172 million towards the Environment Managem..

Next Story
Infrastructure Energy

Tripura To Supply 40 MW Power To Mizoram For Christmas

The Tripura State Electricity Corporation Limited (TSECL) will supply 40 megawatts (MW) of power to Mizoram during the upcoming Christmas celebrations, continuing a long-standing tradition of power exchange between the two north-eastern states, officials confirmed on Sunday.During Durga Puja, the Mizoram State Power Corporation (MSPC) had supplied an equivalent 40 MW of electricity to Tripura to ensure an uninterrupted power supply during the festive period.“We had an agreement to receive 40 MW during Durga Puja, although the full amount was not utilised due to lower-than-expected demand in ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?