Gartner Says Indian IT Market To Reach US $110 Billion In 2012
Published: 09/11/2008
Highlights Key Predictions for Indian IT Marketing in 2008 and Beyond
Mumbai, India, September 11, 2008 - IT end user spending in India is expected to grow at a compound annual growth rate (CAGR) of 14.8 per cent from 2007 through 2012 to generate US $110 billion in 2012, according to Gartner, Inc. In 2008, IT end user spending is on pace to reach US $64.7 billion, a 17.2 per cent increase from 2007.
This prediction, supplemented by a robust gross domestic product (GDP) averaging 8.08 per cent growth from 2007 through 2012, means the Indian market continues to represent a significant growth opportunity for IT vendors. (See Table 1)
India is poised for double-digit growth across many vertical markets, with financial services and communications organizations spending the most on IT, closely followed by services, manufacturing and government...
