INDIA, May 23, 2023 – In 2022, the Indian domestic IT & Business Services market was valued at USD 13.87 Billion and recorded a 7.4% year-over-year (YoY) growth as compared to 7.2% in 2021, according to the International Data Corporation ‘s (IDC) Worldwide Semi-annual Services Tracker . The rise in growth rate is due to the digital transformation initiatives among enterprises in the country. “The Indian IT services market remained resilient, with enterprises investing in digital transformation amidst macroeconomic uncertainties like the war in Ukraine, high-interest rates, inflation, etc. Cloud, analytics, AI/ML, and security continued to be key technology investment areas as enterprises focused on enhancing customer experience, improving operational efficiency and agility, etc., and will continue to do so in the upcoming years. Factors like chances of an impending recession, high inflation, etc., are not expected to cause a significant impact on the Indian IT services market in the near term. However, there will be a slight slowdown due to cutbacks in discretionary spending, delayed decision-making, etc., in some segments,” said Harish Krishnakumar , Senior Market Analyst, IT Services, IDC India. Of the IT & Business Services market, the IT Services market contributed 78.1% and grew by 8.1% […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
