Indias IT spend may total $71 bn in 2014

Written by fe Bureau | Bangalore | Updated: Oct 23 2013, 17:33pm hrs
IT spending in India is projected to total $71.3 billion in 2014, a 5.9% increase from the $67.4 billion forecast for 2013, according to Gartner. IT services will record the strongest revenue growth at 12.1%, software revenue will grow 10% and the telecommunication services segment, that accounts for 42.1% of the Indian ICT market, is set to grow 2% in 2014.

The IT market in India is the third-largest among emerging economies and the fourth-largest among developing and mature Asia/Pacific countries. The telecommunications services market, which includes fixed and mobile, data and voice services, will continue to be the largest IT segment in India with IT spending forecast to reach $30 billion in 2014. The devices market, which includes mobile phones, PCs, tablets and printers is expected to total $23.5 billion in 2014, a 6% increase from 2013.

IT services will record the fastest growth amongst the various segments, and it is projected to grow 13% to reach $11.2 billion in 2014. Software will account for $4.1 billion in revenue.

Peter Sondergaard, senior vice-president at Gartner and global head of Research, said, The digital world is here and this results in every budget being an IT budget; every company being a technology company; every business is becoming a digital leader; and every person is becoming a technology company.