Infotech LeadIndia: Indian enterprise IT spending across all industry markets is likely to reach Rs 1,910 billion in 2012, a 16.4 percent increase from Rs 1,640 billion in 2011.
Gartner said some of this growth is attributable to the relative strength of the Rupee against a weakened US dollar.
The growth is expected to be moderate through 2016 and settle in at the range of eight to nine percent.
“Indian IT providers continue to experience strong growth, and there are more Indian companies in general taking a place on the global stage. There are currently 25 Indian companies in the Fortune 500, and there is a corresponding uptake of information and communications (ICT) technologies in the domestic market, as organizations seek globally competitive practices. The ICT market continues to outpace most markets in Asia/Pacific,” said Derry Finkeldey, principal research analyst at Gartner.
Government investment in the revamp of education is driving high growth in the relatively small education ICT market. The education segment is expected to achieve the strongest growth in percentage terms in 2012, where IT spending is forecast to grow 18 percent in local currency. The best growth opportunities in terms of actual total dollars will remain the government, financial services and large manufacturing sectors throughout the forecast period.
Table 1.EnterpriseIT Spending by Vertical Market inIndia(Billions of Indian Rupees)
|Banking & Securities||253||298||326||353||386||427|
|Communications, Media & Services||307||361||390||419||453||493|
|Manufacturing & Natural Resources||334||386||419||450||488||534|
Source: Gartner (May 2012)