Peter Sondergaard, senior vice president and global head of research at Gartner, provided the latest outlook for the IT industry here today to an audience of more than 700 CIOs and IT leaders at Gartner Symposium/ITxpo, which is taking place here through October 12th.
The telecommunications market is the largest IT segment in India with IT spending forecast to reach $47.8 billion in 2013, followed by the IT services market with spending of $10.3 billion. The computing hardware market in India is projected to reach $9.5 billion in 2013, and software spending will total nearly $4.0 billion. Software will record the strongest revenue growth at 15 percent, IT services will grow at 12 percent. The telecom segment, which accounts for 67 percent of the Indian ICT market, is set to grow at 7 percent revenue growth in 2013.
"The hardware segment will account for 14.1 percent of all IT spending in India by 2016, driven by positive contributions from the storage and the client computing segment," said Partha Iyengar, head of research - India, at Gartner. "Mobile phones will continue to be the fastest growing space within the Indian IT market. During the same time period, this segment will also account for nearly 42 percent of all telecommunications revenue in India, and it will also account for nearly 26 percent of the overall IT spending."
Despite the troubled global economy, 40 percent of CEOs intend to raise their investment in IT. Eighty percent of them can name a company that is using IT-related innovation for competitive advantage. This has a cascading impact on the role of a CIO.
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