Recent correction in IT Services: Cracking the Code3 min read . Updated: 13 Jul 2022, 10:56 PM IST
- What is often overlooked is the inherent resilience of the Indian IT sector
It is a rapidly evolving landscape, and the IT services sector gets disrupted by a “tech refresh" cycle at least once every five years. In the late 90s, it was finding a solution to the Y2K problem, while in the early 2000s, web development was the pre-requisite skill set, and post-2009, data center and SaaS skills began to dominate. A radical change beckoned around 2015 when businesses started moving to the cloud. There was demand for a more front-end skillset that could weave in AI, machine learning, and advanced analytics along with an understanding of sectoral dynamics. In 2020, Covid accelerated a multi-year technology cycle led by cloud, and digital transformation – the nature of IT spending also changed, evolving from discretionary to a strategic priority.