You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. The India IT services market grew 6.1 per cent year-over-year (YoY) in 2023, reaching a market size of $14.5 billion, according to International Data Corporation ‘s latest report, IDC Market Analysis Perspective: India IT Services Market, 2024. While IT investments showed a slower recovery compared to the previous year, the report highlights that digital transformation (DX) initiatives and the increasing complexity of IT environments will continue to drive market growth. "While 2023 saw a slowdown in IT investment, 2024 will be all about growth fueled by digital transformation (DX). The increasing complexity of IT ecosystems—blending on-premises, private, and multi cloud environments—along with surging demand for AI and GenAI solutions, stronger security measures, and automation, will drive the market forward. Service providers are at the heart of this evolution, enabling businesses to manage complex infrastructures, responsibly harness AI, and deliver enhanced customer experiences," says Neha Gupta, senior research manager, Software and IT Services market, IDC India. The leading tech companies capitalised on increased digital spending across enterprises in India, driving significant revenue growth. Performance was bolstered by strong demand in Cloud, AI, security, and application modernization, with notable success in […]
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