India's IT spending to total $79.8 billion in 2012: Gartner
21 Nov 2011
Despite the global economic challenges, spending on information technology (IT) in India is projected to total $79.8 billion in 2012, a 9.1 per cent increase from a year ago, as enterprises will continue to invest in IT, says technology market research firm Gartner.
The country, like other emerging markets, continues to show strong momentum despite inflationary pressures and appreciation of local currencies, which are expected in rising economies, according to the Gartner report.
Gartner's worldwide IT spending is forecasts to reach nearly $3.7 trillion in 2011, of which emerging economies will account for $1.013 trillion.
The telecommunications market is the largest IT segment in India with IT spending forecast to reach $54.7 billion in 2012, followed by the IT services market with spending of $11.1 billion.
The computing hardware market in India is projected to reach $10.7 billion in 2012, and software spending will total $3.2 billion.
India's total IT spend was at about $73.1 billion in 2011.
