India domestic IT spend to grow at 11.6% in 2018, thus reaching INR 233, 273 Crores
Growth in 2017 has been below expectations at 10.3%, but that is an aberration
The second wave of digital in the form of big data analytics, artificial intelligence, IOT, machine learning and bots will become mainstream in the next 18-24 months
Gurgaon/ Delhi NCR, January 02, 2018.
India domestic IT spending is estimated to grow at 11.6% in 2018 and reach a size of INR 233,273 Crores. The spending grew at 10.3% in 2017 as against a start of year prediction of 12.9%. This was revealed by Coeus Age Consulting in its annual research report Enterprise Business Priorities and IT Plans 2018, India.
The research report is based on inputs from 102 CIOs/ IT Heads of very large, large and medium sized Indian enterprises. Inputs were sought regarding their business priorities and IT plans for 2018.
‘The India IT spend witnessed a lower than expected growth in 2017. This was due to the temporary disruption caused by the structural changes undertaken in the form of demonetization and GST roll out. The impact on IT spend can be termed as an aberration as these reforms will have a positive effect on the economy that is becoming more digital in its functioning,’ commented Dr. Kapil Dev Singh, Founder and CEO, Coeus Age Consulting.
The report also reveals that in 2018 in the enterprise and government segments put together, around 25% of IT spend shall happen on digital technologies (analytics, mobility and cloud computing and modern infrastructure to support them). There is also an expressed interest by more than 60% of the enterprises towards exploring the latest digital technologies like big data analytics, artificial intelligence, IOT, machine learning and bots.
‘The first wave of digital in the form of SMAC stack has become mainstream as more and more enterprises are adopting them across their business functions. In 2018, the second wave of digital shall start emerging in the form of big data analytics, artificial intelligence, IOT, machine learning and bots. The second wave will take 18-24 months to become mainstream’, commented Dr. Kapil Dev Singh.