India IT spending to touch $105 bn in 2022, up by 5.5 percent from 2021: Gartner report

Image for representation: IANS

The IT spending in India is set to reach $105.2 billion in 2022 -- an increase of 5.5 per cent from 2021, a new Gartner report showed on Monday.

Despite the potential impacts of the Omicron variant, economic recovery with high expectations for digital market prosperity will continue to boost technology investments in the country.

"2022 is a growth year as Indian CIOs accelerate their long-term digital initiatives, despite the ongoing Omicron scare in India," said Naveen Mishra, senior research director at Gartner.

Like their global peers, Indian CIOs will also be challenged with skills shortage, leading to increasing dependence on external services partners.

"This will bolster the spending on the IT service segment, forecast to increase by 9 per cent as compared to 2021," Mishra added.

Cloud-based software consumption will be one of the biggest contributors towards the 15 per cent growth in the software segment in India, whereas the pent-up demand for data centre technologies will bring 4 per cent growth to the data centre segment in 2022.

Cloud will be responsible for nearly all the 11 per cent spending growth within the enterprise software segment in 2022 as organisations focus on upgrading their software stack to software-as-a-service (SaaS) to support continued flexibility and agility.

Globally, IT spending is projected to total $4.5 trillion in 2022, an increase of 5.1 per cent from 2021.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.