In New Delhi: Indian IT Market is set to grow at around 15.5% for the year 2010, predicts Springboard Research.
According to the research brief, India IT Market Predictions 2010, the market is expected to return to a new normal after last years turbulent economic environment, supported by financial stability, investor confidence, government initiatives and a shift towards a competitive and customer-oriented market structure.
Organizations are likely to initiate new large scale projects that require significant IT infrastructure related investments, Manish Bahl, Research Manager, Springboard Research said. The research agency further observed a noticeable shift in enterprise IT spending from focusing on new investments to streamlining costs and improving internal efficiencies. Data center transformations, IT manageability advancements, SaaS and virtualisation investments are also helping companies drive economies of scale by reducing operational expenditures, both from the business and IT perspective, while increasing productivity, the report added.
The report also predicts trends including growing usage of analytics, rural IT solutions, social networking, innovative payment mechanisms, smart card technologies and desktop virtualisation among others, that is expected to shape the IT market in 2010.
Springboard concludes that the recent global economic and financial crisis has provided an impetus to Indian companies to be more productive and gain maturity from both a business and IT perspective. According to the report, factors including political stability, increased customer confidence, better industrial output and and positive corporate earnings are the key driver forces behind this optimism.
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