You are here: Home » Economy & Policy » News
Business Standard

Information Technology spending in India to reach $93 bn in 2021: Gartner

IT spending in India is projected to total $93 billion in 2021, an increase of 7.3 per cent from 2020, according to research firm Gartner

IT spending | India's IT Spending | Gartner

Press Trust of India  |  New Delhi 

Photo: Reuters
Representative image

in India is projected to total USD 93 billion in 2021, an increase of 7.3 per cent from 2020, according to research firm

The growth in India will be lower than the global average, as worldwide is projected to total USD 4.1 trillion in 2021, clocking an increase of 8.4 per cent from 2020, said in a statement.

The source of funds for new digital business initiatives will more frequently come from business departments outside IT and charged as a cost of revenue or cost of goods sold (COGS), it added.

The in the country is expected to further grow to USD 98.5 billion in 2022.

IT no longer just supports corporate operations as it traditionally has, but is fully participating in business value delivery, Research Vice President John-David Lovelock said.

"Not only does this shift IT from a back-office role to the front of the business, but it also changes the source of funding from an overhead expense that is maintained, monitored and sometimes cut, to the thing that drives revenue, Lovelock added.

Spending on Data Centre Systems is expected to touch USD 3.5 billion (up 4.3 per cent from 2020), while that on Enterprise Software is expected to be USD 7.7 billion (up 13.3 per cent) and Devices at USD 34.6 billion (up 7.7 per cent). IT services is forecast to log USD 16.7 billion (up 8.9 per cent), and Communications Services USD 30.1 billion (up 4.9 per cent) spending in 2021.

"Last year, IT spending took the form of a 'knee jerk reaction to enable a remote workforce in a matter of weeks. As hybrid work takes hold, CIOs will focus on spending that enables innovation, not just task completion, Lovelock said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 07 2021. 18:52 IST