IT spend seen exceeding $39 billion in 2012

IT spend seen exceeding $39 billion in 2012

Indian enterprise IT spending (including hardware) across all industry markets is going to surpass $39 billion in 2012, a 10.3 per cent increase from 2011 spending of $36 billion.

According to Gartner study growth of IT in India is expected to continue, with an annual increase. Gartner predicts that these demands are being placed while IT infrastructure within many enterprises may not be entirely in place. IT is also in transition from being viewed as a back-office support function to a frontline business-focused function.

 The retail industry is expected to achieve strongest growth in percentage terms in 2012, where IT spending is forecast to grow 11.8 per cent. Recent decisions to allow 100 percent foreign direct investment (FDI) in single brand retail, and up to 51 per cent in multi brand retail, are expected to provide the sector with significant boost in terms of IT usage and adoption.

Gartner recommends that vendors identify specific industry target markets, and prioritise these for allocation of needed resources. The banking and securities sector is expected to reach $11.6 billion in 2015 from $5.2 billion in 2011, CAGR of 11.6 per cent.  Retail is expected to see a growth from $1.7 billion in 2011 to $2.7 billion in 2015, CAGR of 12.8 per cent.

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