Infographic: IT spending to increase 7 per cent from 2021

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Infographic: IT spending to increase 7 per cent from 2021

In India, IT spending is expected to reach $101.8 billion by the year 2022, according to Gartner. It is an increase of 7 per cent from 2021. India was one of the fastest recoveringies in the world despite being severely hit in the second wave, according to the research.

Software is expected to lead all IT spending, with all segments of IT spending expected to grow. Gartner predicted software spending to amount to $10.5 billion in 2022, up 14.4 per cent from 2021. In 2022 there is going to be more spending on devices due to an increase in hybrid work regime. It's expected to reach $44 billion, an increase of 7.5 per cent from 2021. The growth in devices is likely to be driven by the combination of hybrid work and pent-up demand from 2020 for device upgrades. Spending on devices is likely to amount to 43 per cent of IT spending.

Gartner's Research Vice President Arup Roy stated that the digital transformation trajectory that began as a response to the Pandemic is here to stay for the next few years. India has had one of the fastest recoveries, despite being one of the worst hit regions in the second wave of the Pandemic in early 2021. In 2022, CIOs in India will focus their efforts on technology to get funding for new IT projects, Roy said.

IT spending is going to go up as a result of projects that drive innovation and modernise legacy systems, according to the report. It is important to hire a workforce that can meet these requirements. Indian CIOs will prioritize more composable business and IT architecture over rigid and monolithic ways of doing business.

The research looked into the sales of thousands of vendors from across the IT products and services and offered a perspective on IT spending across the hardware, software, IT services and telecommunications segments.