Latest Technology News Today – Get Latest Information Technology Updates and Services Latest Technology News Today – Get Latest Information Technology Updates and Services 
India IT spending is expected to touch $92.7 billion in 2021 growing at 8 percent over 2020, as per the latest forecast by Gartner.
The research firm revised its growth forecast from 7.3 percent that it announced in April 2021. The growth is however still notch less against 8.6 percent of the world average. The global spending on information technology is estimated to reach $4.2 trillion.
In India, the overall IT spending growth slowed down to 1.5 percent to $85.865 billion in 2020, probably hit by the pandemic.
As per Gartner estimates, enterprise software will be the biggest growth area, and growth in spends is estimated to be maintained at 16.9 percent to $9.218 billion in 2021.
After a de-growth of 5.9 percent in 2020, the largest spend category of devices will see a 7.6 percent growth to $38.747 billion in 2021, the analysts estimated.
IT services will register a 10.7 percent growth to $18.103 billion in 2021, as against a 3 percent growth in 2020, it said.
After 11.4 percent de-growth in 2020, spending on data centre systems is estimated to grow by 3.4 percent to $2.706 billion in 2021, while the growth in communications services will slow down to 4.3 percent to $23.979 billion, as against a 10.9 percent jump in 2020.
It can be noted that the country’s largest software company TCS had last week reported a hit to the overall earnings because of the impact of the second wave-induced lockdowns on the business.
“The second wave of the pandemic and associated lockdowns have brought a significant sluggishness during most of the second quarter of 2021. However, demand is witnessing a rapid recovery across the majority of the sectors,” said Naveen Mishra, Senior Research Director, Gartner.
Pharma, healthcare, financial services, education, online retail and government will continue to invest in their digital transformation journey, he added.
Indian organizations including SMEs will be better positioned to invest more into IT, through the next two quarters, the company said. In 2022, the IT spending is expected to grow 6.4 per cent to $98.645 billion, as per the estimates.
