Team Blitz India
NEW DELHI: India’s information technology (IT) spending is anticipated to reach $124.6 billion in 2024, reflecting a 10.7 per cent increase from 2023, according to the latest forecast by Gartner. This follows a period of flat growth (minus 0.5 per cent) in 2023. The upswing will be driven by investments in software, IT services, and devices.
The biggest year-on-year increase is expected in the devices and IT services segment. Gartner predicts a 10 per cent growth in devices spending in 2024, rebounding from a negative growth of minus 7 per cent in 2023. Similarly, IT services, which grew by 6.5 per cent in 2023, is anticipated to surge by 14.6 per cent in 2024.
Naveen Mishra, vice-president (V-P), team manager at Gartner, said in a media briefing, “Indian organisations are expected to invest in artificial intelligence (AI) and automation during this period as a strategic effort to enhance operational efficiency and address the ongoing shortage of IT talent. However, it is not until 2025 that generative AI (GenAI) will begin to carve its place in IT budgeting among Indian organisations.”
The trend in India’s IT spending aligns with global patterns.
