India IT Spending to Grow 8% in 2021, says Gartner

By VARINDIA - 2021-07-14

India IT Spending to Grow 8% in 2021, says Gartner

India IT spending is expected to total $92.7 billion in 2021, growing 8% from 2020, according to a latest forecast by Gartner, Inc. Worldwide IT spending is projected to total $4.2 trillion in 2021, an increase of 8.6% from 2020.

 

“Technology spending is entering a new build budget phase,” said John-David Lovelock, distinguished research vice president at Gartner. “CIOs are looking for partners who can think past the digital sprints of 2020 and be more intentional in their digital transformation efforts in 2021. This means building technologies and services that don’t yet exist, and further differentiating their organization in an already crowded market.”

 

As many companies still suffer revenue declines, IT spending is accelerating ahead of revenue expectations. Boards and CEOs are much more willing to invest in technology that has a clear tie to business outcomes, and less so for everything else. For example, the IT services segment is among the top three highest growth areas for 2021 primarily due to a boost in infrastructure-as-a-service spending that supports mission critical workloads and avoids high on-premises costs. The IT services segment is forecast to total $1.2 trillion in 2021, an increase of 9.8% from 2020 (see Table1).

 

Table 1. Worldwide IT Spending Forecast (Millions of U.S. Dollars)

 

2020 Spending

2020 Growth (%)

2021 Spending

2021 Growth (%)

2022 Spending

2022 Growth (%)

Data Center Systems

178,466

2.5

191,648

7.4

201,659

5.2

Enterprise Software

529,028

9.1

598,957

13.2

669,114

11.7

Devices

696,990

-1.5

793,973

13.9

800,172

0.8

IT Services

1,071,281

1.7

1,176,676

9.8

1,277,228

8.5

Communications Services

1,396,287

-1.4

1,444,980

3.5

1,481,878

2.6

Overall IT

3,872,052

0.9

4,206,234

8.6

4,430,051

5.3

Source: Gartner (July 2021)

 

“The second wave of the pandemic and associated lockdowns have brought a significant sluggishness during most of the second quarter of 2021. However, demand is witnessing a rapid recovery across majority of the sectors,” said Naveen Mishra, senior research director at Gartner. “Pharma, healthcare, financial services, education, online retail and government continue to invest in their digital transformation journey.” In 2021, Indian organizations including SME’s, will be better positioned to invest more into IT, through the next two quarters. All segments of IT spending are projected to grow in 2021, in India. End user spending are forecasted to spend the highest on devices in 2021 (see table 2), after a 5.9% decline in 2020.

 

Table 2. India IT Spending Forecast (Millions of U.S. Dollars)

2020 Spending

2020 Growth (%)

2021 Spending

2021 Growth (%)

2022 Spending

2022 Growth (%)

Data Center Systems

2,616

-11.4

2,706

3.4

2,768

2.3

Enterprise Software

7,884

17

9,218

16.9

10,518

14.1

Devices

36,014

-5.9

38,747

7.6

41,135

6.2

IT Services

16,352

3

18,103

10.7

19,725

9

Communications Services

22,999

10.9

23,979

4.3

24,498

2.2

Overall IT

85,865

1.5

92,753

8

98,645

6.4

Source: Gartner (July 2021)

 

“Digital transformation can no longer be purchased overnight, and global IT spending projections reflect that,” said Lovelock. “As the world continues to open back up, enterprises will invest in tools that support innovation, anywhere operations and employee productivity and trust.”

 

Learn to make faster, smarter decisions -- and generate stronger performance – by reinventing where, when and how work is done in the Gartner Future of Work Resource Center.

 

Additional details are also available in the complimentary Gartner webinar “The Gartner IT Spending Forecast, 2Q21 Update: Build Budgets Taking Off.”

 

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. Gartner uses primary research techniques, complemented by secondary research sources, to build a comprehensive database of market size data on which to base its forecast.

 

The Gartner quarterly IT spending forecast delivers a unique perspective on IT spending across the hardware, software, IT services and telecommunications segments. These reports help Gartner clients understand market opportunities and challenges. The most recent IT spending forecast research is available to Gartner clients in “Gartner Market Databook, 2Q21 Update.” This quarterly IT spending forecast page includes links to the latest IT spending reports, webinars, blog posts and press releases.

 

Additional analysis on how CIOs respond to adversity and discover digital business strategic planning tools and techniques to achieve business continuity will be presented during Gartner IT Symposium/Xpo 2021, the world's most important conferences for CIOs and other IT executives. IT executives rely on these conferences to gain insight into how their organizations can use IT to overcome business challenges and improve operational efficiency. Follow news and updates from the conferences on Twitterusing#GartnerSYM.


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