India IT spending is projected to grow 2.3 percent in 2023 to $112.427 billion as compared with 1.9 percent increase in 2022 to $109.622 billion, , according to Gartner.
There will be weakening demand for devices and spending on devices will drop 1.2 percent to $22.039 billion in 2023 as compared with 2.2 percent decrease in 2022 to $48.448 billion.
Arup Roy, VP Analyst at Gartner, said there will be cost cutting in traditional areas. Cost optimization will happen across organization. Except for data centre systems, and devices, all other segments will achieve growth in India in 2023.
India CIOs will focus
# Cyber security focus
# Business intelligence and data analytics
# Digital transformation
# Cloud platform
Suggestions for CIOs
# IT for sustainable growth
# Revolutionary work
# Responsible investment
# Cyber security strategy
# Handling talent crisis
“Inflation has not impacted enterprise spending on technology globally, and India is no exception to this trend,” said Arup Roy, VP Analyst at Gartner. “The headwinds are in favor of technology as businesses realized how going digital can benefit them in the long run. Depending upon the maturity level of the digital enterprise, the spending context may be different for different businesses, but overall technology spending will continue to be on the rise in 2023.”
End-user spending on public cloud in India is forecast to grow 27 percent in 2023. Except for data center systems and devices, all the other segments of IT spending will experience growth in India in 2023.
“As Indian organizations advance in their digital initiatives and maturity, they will need to elevate their cybersecurity focus or face severe business risk. Also, paucity of good quality digital talent and technology/management skills will continue to be some of the top challenges that CIOs in India face in 2023,” said Arup Roy.