New Delhi: The Indian IT market is expected to return to a 'new normal' after last year's turbulent economic environment, supported by financial stability, investor confidence, government initiatives and a shift towards a competitive and customer-oriented market structure. Springboard Research predicts that Indian IT Market is set to grow at around 15.5 percent for the year 2010.

Springboard observed a noticeable shift in enterprise IT spending from focusing on new investments to streamlining costs and improving internal efficiencies. "Organizations are likely to initiate new large?scale projects that require significant IT infrastructure related investments," said Manish Bahl, Research Manager at Springboard Research. "With the CIOs primarily focused on allocating around 75 percent of their budgets to 'keep the lights on,' there is great interest in cost-cutting measures."

According to Springboard's latest executive brief release, "India IT Market Predictions 2010," Data center transformations, IT manageability advancements, SaaS and virtualization investments are also helping companies drive 'economies of scale' by reducing operational expenditures, both from the business and IT perspective, while increasing productivity.