India's ICT spend to grow 10.3 percent in 2011: Gartner
Wednesday, 24 November 2010, 06:23 IST
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India's ICT spend to grow 10.3 percent in 2011: Gartner
Mumbai: The country's information and communication technology (ICT) spend is expected to reach $71.9-billion, a 10.3 percent jump in 2011, as against $65.23-billion this year, says global research firm Gartner. Hardware is the fastest growing segment with a compound annual growth rate (CAGR) growth seen at 20.4 per cent by 2014, the research firm said. IT services are showing the strongest annual revenue growth at 22 percent in 2010, while the telecom segment that is expected to account for 73 percent of the Indian ICT market, is witnessing a slowdown and is set to grow at 13.2 percent, Gartner said. The research firm said double-digit growth across all sub-segments of ICT space will drive growth this year. "IT spending in India saw somewhat a slowdown as a result of the global economic recession through much of 2009.
Source: PTI
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