• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

IT Spending In India Projected To Total $108.5 Bn In 2023: Report

OMMCOM NEWS by OMMCOM NEWS
April 6, 2023
in Business

New Delhi:  IT spending in India is projected to total $108.5 billion in 2023, while global IT spending is projected to total $4.6 trillion in 2023, an increase of 5.5 per cent from 2022, a new report showed on Thursday.

Despite continued global economic turbulence, all regions globally are projected to achieve IT spending growth in 2023, according to Gartner.

“IT spending will remain strong, even as many countries are projected to have near-flat gross domestic product (GDP) growth and high inflation in 2023. Prioritisation will be critical as CIOs (Chief Information Officer) look to optimise spend while using digital technology to transform the company’s value proposition, revenue and client interactions,” said John-David Lovelock, Distinguished VP Analyst at Gartner.

Moreover, the report mentioned that the software segment will see double-digit growth this year as enterprises prioritise spending to capture competitive advantages through increased productivity, automation and other software-driven transformation initiatives.

Conversely, the devices segment will decline nearly 5 per cent in 2023, as consumers defer device purchases due to declining purchasing power and a lack of incentive to buy.

“CIOs face a balancing act that is evident in the dichotomies in IT spending. For example, there is sufficient spending within data centre markets to maintain existing on-premises data centres, but new spending has shifted to cloud options, as reflected in the growth in IT services,” Lovelock said.

The IT services segment will continue to grow through 2024, primarily due to the infrastructure-as-a-service market, which is expected to grow by more than 30 per cent this year.

The report further said that many Indian CIOs are implementing cost-cutting and efficiency initiatives, resulting in a decrease in data centre system spending.

The acceleration of cloud migration, combined with a shortage of IT skills, is expected to drive IT services spending in India, which is expected to reach 21.9 billion by 2023.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

NMC Approves 100 MBBS Seats For Govt Medical College, Bhawanipatna

Next Post

Mamata Asks Party Leaders To Go For Massive Campaign On Pending Central Dues

Related Posts

RBI
Business

RBI’s New Project Finance Directions To Cushion Banks Against Risk: Report

June 26, 2025
Sensex
Business

Sensex Surges 1,000 Points, Banking And Heavyweight Stock Gain

June 26, 2025
Narendra modi
Business

Foxconn Bets Big On India As Global Tech Giants Diversify Supply Chains

June 26, 2025
SEBI
Business

SEBI Imposes Rs 25 Lakh Penalty On BSE For Breach Of Norms

June 25, 2025
Foreign Direct Investment Confidence Index
Business

India’s FDI Inflows Surge To $8.8 Billion In April

June 25, 2025
Reserve Bank of India
Business

Microfinance Sector Needs To Introspect, Avoid Harsh Coercive Recovery Practices: Rajeshwar Rao

June 25, 2025
Next Post

Mamata Asks Party Leaders To Go For Massive Campaign On Pending Central Dues

Dubai Court Awards Rs 11 Cr Compensation To Indian Accident Victim

Right To Service Commission Penalises Faridabad Corporation Officials

khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.