Press Release – Immediate
- India domestic IT spend is estimated to grow at 11.9%, reaching INR 2,60,000 Crores
- Spend on emerging digital technologies by the Enterprise and Government segments to grow at 29% over 2018, thus accounting for 30% of their overall IT spend
- The growing emerging digital technologies spend shall offset the otherwise stagnating and commoditized hardware and software markets (PC, Server, Storage, Networking, and In-premise Enterprise Software)
- The Second Wave of Digital in the form of emerging technologies like AI, ML, Big Data Analytics, RPA and IoT shall firm up further
Gurgaon/ Delhi NCR, January 01, 2019.
India domestic IT spending is estimated to grow at 11.9% in 2019 and reach a size of INR 259,762 Crores. The spending grew at 11.5% in 2018 as against a start-of-year prediction of 11.6%. This was revealed by Coeus Age, a fast-growing research organization, in its annual research report India Business and IT Priorities 2019.
The research report is based upon inputs of 108 CIOs/ IT Heads of very large, large and medium sized Indian enterprises. Inputs were sought regarding their business priorities and IT plans for 2019.
‘After an aberration in 2017 due to the disruption caused by the structural changes undertaken in the form of demonetization and GST roll out, the IT spend growth bounced back in 2018. This is on the back of a revival of the Indian economy, which is expected to continue through 2019, translating into a growth of 11.9% in the IT spend’, commented Dr. Kapil Dev Singh, CEO, Coeus Age.
The report reveals that the growth is catalysed by enterprise and government spending on digital and consumer spending on smartphones and digital services. In 2018 digital spend by enterprise and government segments put together, grew by 27.5% over 2017, accounting for 25.2% of their overall IT spend. The proportion of spend on digital is estimated to grow to almost 30% in 2019, implying a growth of 29% over 2018. The commoditized traditional hardware and software products (PC, Server, Storage, Networking, and In-premise Enterprise Software) spend is estimated to grow at slightly below 4%.
There is also an expressed interest by the enterprises towards exploring the latest digital technologies like Artificial Intelligence (68%), big data analytics (60%), machine learning (46%), and Internet of Things (40%).
‘We had predicted that the second wave of digital represented by the likes of AI, ML, RPA and IOT would gain traction in 2018 and shall become mainstream in 2019. That is becoming a reality as the interest of the enterprise and government customers is converting into ‘on the ground’ concrete projects. This is evident in many industry verticals such as BFSI, Automobile, Healthcare, Infrastructure, Utilities, Oil & Gas etc.’ commented Dr. Kapil Dev Singh.
For press enquiries contact Dr. Kapil Dev Singh at +91-9811771187 or mail at firstname.lastname@example.org.
About Coeus Age
Coeus (Koios) was the Greek Titan of intelligence, the axis around which the heavens revolved. In the current age, enterprise intelligence is the axis around which organizing takes place, a true source of strategic advantage and success.
Coeus Age is a fast-growing research and consulting organization that is continuously developing actionable insights for the business and government leaders build value amid digital disruption.
 Social Media, Mobility, Analytics, Cloud (Wave1 of Digital);
Big Data Analytics, IoT, AI, ML, RPA, Blockchain (Wave 2 of Digital); and
Cyber Security, Hyper Converged and Software Defined Infrastructure (Digital-ready Infrastructure)
 Percentage of CIOs Planning to Implement