Gartner Sees 9.4% Jump in India IT Spending

Market research firm Gartner said India’s IT spending is expected to reach $73.3 billion in 2015, a 9.4 per cent increase from the 2014 forecast.

"India is forecast to be the third largest IT market within the Asia/Pacific region by the end of 2016 and will further progress to become the second largest market for IT by the end of 2018," said Peter Sondergaard, senior vice president at Gartner and global head of Research. "Much of the growth from being the number four market in Asia/Pacific to number three is likely to happen in 2015."

IT services will record the strongest revenue growth at 15.7 per cent in 2015, as per Gartner. Software will grow at 14%. Devices will continue to account for the second largest part of the market with 33% share of revenue and will grow 12.6 per cent in 2015. The telecommunication services segment will account for 39.3 per cent of the Indian ICT market and it is set to grow at 4.2 per cent revenue growth in 2015.

In 2014, mobile devices will grow 13.5 per cent, and will dislodge mobile voice services to be the largest segment within the overall IT market in India. Mobile data services will be the fastest growing segment in India, growing 18.2 per cent in 2014, Gartner said.

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