India IT spending to reach $71.5 bn in 2013, says Gartner

 

Wed, Oct 10 2012. 08 31 PM IST

India IT spending to reach $71.5 bn in 2013, says Gartner

Telecommunications market is the largest IT segment, with IT spending forecast to reach $47.8 bn in 2013, says report

Software will record the strongest revenue growth at 15% while IT services will grow 12%, according to research firm Gartner. Photo: Madhu Kapparath/Mint

MUMBAI: Information technology (IT) spending in India is projected to total $71.5 billion (around `378 crore today) in 2013, a 7.7% increase from the $66.4 billion forecast for 2012, according to researcher Gartner Inc.

The telecommunications market is the largest IT segment in India, with IT spending forecast to reach $47.8 billion in 2013, followed by the IT services market with spending of $10.3 billion, according to aGartner report released on Wednesday.

The computing hardware market in India is projected to reach $9.5 billion in 2013, and software spending will total nearly $4 billion. Software will record the strongest revenue growth at 15% while IT services will grow 12%. The telecom segment, which accounts for 67% of the Indian ICT (information and communications, technology) market, is set to post 7% revenue growth in 2013.

"Businesses are increasingly looking to IT to help support the challenges of enhancing customer support, supply chain management, optimizing business processes or helping drive innovation in the business," said Peter Sondergaard, Gartner's global research head.

The hardware segment will account for 14.1% of all IT spending in India by 2016, driven by positive contributions from the storage and the client computing segment, according to Partha Iyengar, head of research, India, at Gartner. Mobile phones will continue to be the fastest growing space within the Indian IT market, he said.