News: IT spending to grow next fiscal: Gartner

#Updates

IT spending to grow next fiscal: Gartner

Report from research firm Gartner suggests that despite the global economic challenges, IT spending in India by enterprises will increase by 9.1 per cent in 2012. IT spending in India is projected to total $79.8 billion in 2012, against $73.1 billion in 2011 primarily due to the fast paced growth in India's burgeoning telecommunications space and the growing adoption of devices such as smart-phones and tablet computers, especially in tier-2 and tier-3 cities.

The telecommunications market is the largest IT segment in India with IT spending forecast to reach $54.7 billion in 2012, followed by the IT services market with spending of $11.1 billion. The computing hardware market in India is projected to reach $10.7 billion in 2012, while software spending will total $3.2 billion.

According to Gartner, worldwide IT spending will reach nearly $3.7 trillion by current year end. Of this, emerging economies such as India, China, Brazil and others will account for $1.013 trillion. Going forward, Gartner has identified three ‘forces', namely cloud computing, social media computing and information explosion that will change the way businesses will be conducted.

Source: The Hindu Business Line

Topics: #Updates, C-Suite

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