India’s IT Spending to Reach Rs 2.59 Lakh Crore in 2019: Report

- Advertisement -
- Advertisement -

The share of digital spend in total IT spending is likely to grow to at least 30 per cent this year, witnessing a growth of 29 per cent over the previous year

A latest report of Coeus Age Consulting revealed that India’s information technology (IT) spending is projected to increase by 11.9 per cent to about Rs 2.59 lakh crore in 2019.

The  report based on the inputs from 108 respondents that include IT heads/CIOs of large as well as medium-sized enterprises indicated that the IT spending increased by 11.5 per cent last year, against the prediction of 11.6 per cent.

- Advertisement -

Kapil Dev Singh, CEO, Coeus Age,commented that after an aberration in 2017, due to the disruption caused by the structural changes undertaken in the form of demonetisation and Goods and Services Tax (GST) roll-out, the IT spend growth bounced back in 2018.

Growth drivers

As per the report, the growth is driven by the digital spending by the government and enterprise and consumer spending on digital services and smartphones. Last year, digital spending collectively by the government and enterprise segments increased by 27.5 per cent as compared to the previous year, making for 25.2 per cent of their total IT spending.

The share of digital spend in total IT spending is likely to grow to at least 30 per cent this year, witnessing a growth of 29 per cent over the previous year.

The spending on traditional software and hardware products such as PC, server, networking, storage, and in-premise enterprise software, is projected to grow a little less by 4 per cent.

In addition, enterprises interest in exploring the new digital technologies such as artificial intelligence (AI) with 68 per cent, big data analytics with 60 per cent, machine learning (ML) with 46 per cent, and internet of things (IoT) with 40 per cent.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Our Goal is to Offer 1000 To 1500 Varieties, With Volumes Ranging From 10000...

0
During a chat with Nitisha Dubey from EFY, Mohammed Iqbal, CEO of Technomake Electronics Pvt Ltd, talks about PCB assembly and major customer focus...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Buzz

TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Important Sectors

Microchip Technology Expands TrustFLEX Family With CEC1736 Real-Time Platform Root Of Trust Devices

0
TrustFLEX devices along with the Trust Platform Design Suite tool will simplify the enablement of root of trust from concept to production in wide...
TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...