According to the latest forecast by Gartner, IT spending in India is predicted to total $101.8 billion in 2022, increasing by 7 per cent from 2021.
Indian chief information officers (CIOs) are likely to increase their spending towards projects that drive innovation and modernising legacy systems. Hiring a workforce that can deliver on these needs will also be a key priority. In 2022, Indian CIOs are prioritising a move away from rigid and monolithic ways of doing business to a more compatible business and IT architecture where they will be able to better respond to disruptions.
In 2022, all segments of IT spending in India are expected to grow, with software emerging as the highest growing segment. Spending on software is forecast to total $10.5 billion in 2022, up 14.4 per cent from 2021. While experiencing a slower growth rate than 2021, spending on software in 2022 is forecast to be nearly double of what it was pre-pandemic.
Gartner’s IT spending forecast methodology relies heavily on rigorous analysis of sales by thousands of vendors across the entire range of IT products and services.
Commenting on the latest forecast, Arup Roy, research vice president, Gartner, said, “The digital transformation trajectory that began as a pandemic response is here to stay for the next few years. India has experienced one of the fastest recoveries despite being one of the worst hit regions in the second wave of the pandemic in early 2021. In 2022, CIOs in India will build on renewed interest in technology from the business to gain funding for new IT projects.”
