2019 is going to a critical year for India for the simple reason that from this year onwards India will strive to keep its 7%+ growth intact. In the large scheme of things DC growth and XaaS play would be major triggers.
How do you expect the year 2019 for India from the industry growth perspective?
Innovation and agility should be the essential ingredients in 2019 for technology companies to gain a competitive advantage. According to Gartner, Inc., the worldwide IT spending is projected to total $3.8 trillion in 2019, an increase of 3.2% from the expected spending of $3.7 trillion in 2018. Estimates also indicate that enterprise software spending will experience the highest growth with an 8.3% increase in 2019. Software-as-a-service (SaaS) is already driving growth in almost all software segments. Apart from this, Cloud software will see a growth of more than 22% this year. A TechSci Research report indicates that the data storage market in India is projected to register a CAGR of more than 7%by 2021 due to continuing surge of structured and unstructured data, increasing demand for high-performance external drives, and declining cost of data storage devices in the country. Cloud computing is going to become indispensable and everything-as-a-service (XaaS) solutions will improve user access to cutting-edge technologies and services. This is also the year when companies will start exploring blockchain technology with identity/privacy protection becoming a prime concern in today’s scenario.
Which verticals are likely to invest more in 2019?
IT sector capabilities are expanding due to new niche segments. Service providers are working towards creating new digital solutions and technology verticals to serve industries including healthcare, finance, transportation, and manufacturing. About 45% of the IT budget in Indian organizations is being earmarked to optimize traditional IT infrastructure, develop highly skilled talent, and innovate digital processes that can make business adaptive and resilient.
Which technologies are going to gain prominence in 2019, therefore gain more investment from the industry?
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