Gartner says Indian ICT spending To Grow 10.3 percent in 2011

CXOtoday.com (Nov 23 2010)

1. Gartner says hardware growth in India will outpace growth in Telecom. The research firm has also predicted that services and software will be the fastest growing segment till the end of 2014. Information and communication technology (ICT) spend is forecast to reach $71. 9 Billion in 2011, a 10.3 percent increase from 2010 spending of $65.23 billion, according to Gartner. Hardware will be the fastest growing segment with a compound annual growth rate (CAGR) growth of 20.4 percent through 2014. IT services is showing the strongest annual revenue growth at 22 percent in 2010 while the telecom segment, that is forecast to account for 73 percent of the Indian ICT market in 2010, is witnessing a slow down and is set to grow at 13.2 percent growth. Double-digit growth across all sub segments of the ICT space will drive the growth this year. (Read Full Article)

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