New Delhi, Oct 15 (IANS): IT spending in India is projected to rise to $73.3 billion in 2015 -- a 9.4 percent increase from the $67.1 billion forecast for 2014, said US information technology research and advisory firm Gartner Inc.
"India is forecast to be the third largest IT market within the Asia/Pacific region by the end of 2016 and will further progress to become the second largest market for IT by the end of 2018," said Peter Sondergaard, senior vice president at Gartner and global head of research.
"Much of the growth from being the number four market in Asia/Pacific to number three is likely to happen in 2015," he added.
"IT spending in India is on pace to increase 2.9 percent this year, primarily on the back of strong growth within the IT services and software, which will grow 10.5 percent and 9.6 percent," said Partha Iyengar, distinguished analyst and Gartner India head of research.
In 2014, mobile devices will grow 13.5 percent, and will dislodge mobile voice services to be the largest segment within the overall IT market in India, Gartner said.
Mobile data services will be the fastest growing segment in India, growing 18.2 percent in 2014. Telecommunication services will account for 41.4 percent of overall IT spending, and it will decline 0.7 percent in 2014, it added.
"The impact that the digital business economy is having on the IT industry is dramatic. Since 2013, 650 million new physical objects have come online. 3D printers became a billion dollar market; 10 percent of automobiles became connected; and the number of chief data officers and chief digital officer positions have doubled. In 2015, all of these things will double again," Sondergaard said.
Gartner defined digital business as new business designs that blend the virtual world and the physical worlds, changing how processes and industries work through the Internet of Things.
"This year enterprises will spend over $40 billion designing, implementing and operating the Internet of Things," Sondergaard said.
"Every piece of equipment, anything of value, will have embedded sensors. This means leading asset-intensive enterprises will have over half a million IP addressable objects in 2020."