Spending on information technology in India is expected to rise 6.9% to $72.4 billion in 2017 from an estimated $67.7 billion in the previous year, led by growth in software and IT services revenue, researcher Gartner Inc. said.
The key segments driving IT spending growth include communications, media and services, banking and securities, and manufacturing and utilities markets, analysts at Gartner said.
“Software and IT services spending is projected to have the highest growth rates as companies work towards creating digital applications on which enterprise organizations’ digital business models are being built. Some leading edge organizations are already starting to extend that journey to the beginnings of algorithmic business," said Partha Iyengar, Gartner fellow and head of research at Gartner India.
Chief information officers will participate in building a new digital platform with intelligence at the centre, the report added.
That platform will enable ecosystems, connecting businesses and collapsing industries.
According to the report, the new digital platform consists of five domains—traditional IT systems, customer experience, Internet of Things (IoT), an ecosystem foundation and the intelligence platform that ties all the domains together.
Last month, Gartner said that the government is on track to spend $7.2 billion on IT products and services in 2016, an increase of 2.4% over 2015.