Indian IT Market To See A Jump Of 6.9% To $12.9 Billion: IDC

According to an IDC Asia Pacific’s report, this year is predicted to see an increase of 6.9% to $12.9 billion in the Indian IT and business market.

The Semi-annual Services Tracker, 1H 2018 by IDC reported that in 2019, Indian market could rise by 7.9% to $13.9 billion. The report states that the growth is fueled by the Indian economy's recovery in the first two quarters of 2018. This bounce back after the weak 2017 has given rise to government expenditure on technology initiatives and also the business sector’s spending on developing digital technologies.

The recovery of economy is also driving increased demand for some services such as system-upgrading, which is anticipated to contribute greatly to the IT Services market in the upcoming one to two years.

IDC also reported that IT Consulting, Hosted Application Management, Hosting Infrastructure Services, and Application Management will outpace other services.

Ranganath Sadasiva, director of IDC India's Enterprise Practice, claims that IT Services played a vital role in speeding up the adoption of interdependent trends in computing platform, which is also known as the third platform. He was confident that demand for prominent technologies, including the Internet of Things, Automation, Cloud, AI, and Machine Learning would be edged up in the next 3 to 5 years.

Ranganath Sadasiva

IDC made an estimate that the Indian IT Services segment would enjoy an 8.2% growth jump to $13.7 billion from 2017 to 2022.

Sandeep Kumar Sharma, who is in charge of researching the software and IT services markets in India for IDC, stated that the cyber threats would account for the rise of demand for security services in the first two quarter in 2018. This increase is expected to be 20.7% between 2017 and 2022.

He said that the lack of awareness for cybersecurity and the scarcity of skilled professionals in this filed would stimulate the growth of demand for security services in the next 1 to 2 years.