20% is the typical share of companies’ tech spending on software in advanced economies, according to Forrester Research
Businesses in India are finally beginning to make significant investments in areas including cloud computing and data analytics. According to Forrester Research, technology spending in India will grow by 12 percent in 2018. But not everyone has a comprehensive vision for what technology ought to do in their organisation.
The report, released on January 23, also says growth in technology spends will be lower in 2019, at 10 percent, as businesses would wait for the results of the general elections that year.
Other important highlights from the report include the sharp rise in software spending, accounting for about 11 percent of India’s tech spending in 2018. This category will continue to grow faster than overall Indian technology spending in the coming years.
Spending on in-house computer hardware will continue to slow as the adoption of the public cloud model rises. However, even though “Indian enterprises are finally entering the age of analytics”, Forrester finds that not everyone has an end-to-end plan. For instance, “only a handful of BFSI firms have attempted to establish a complete enterprise-wide digital vision,” says the report.
(This story appears in the 02 March, 2018 issue of Forbes India. To visit our Archives, click here.)