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Future Innovations in Indian IT Industry

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Future Innovations in Indian IT Industry         

Despite of its rapid growth in a very quick succession, the IT industry in India has attracted its fair share of criticism too. This is primarily levelled against the industry's excessive political influence - as articulated through its most significant association, NASSCOM - which, it is claimed, far exceeds its economic contribution to the nation.

This has also enabled the IT industry to secure the support and resources of the Domestic state ahead of other domains of the national economy where the developmental returns would be much greater. India's IT-business process outsourcing (BPO) industry revenue is expected to cross US$ 300 billion mark by 2025, according to a Confederation of Indian Industry (CII) report, titled 'The SMAC Code-Embracing New Technologies for Future Business'. India is also expected to become world's second-largest online community after China with 274 million internet users by January 2015 and 315 million by December 2016, according to a report by Internet and Mobile Association of India (IAMAI) and IMRB International.

Technology companies in India are expected to reap the benefits of Internet of Things (IoT) data, considered to be a US$ 20 billion opportunity, to help customers to enhance productivity and asset utilisation as well as to improve end customer experience, as per networking firm Cisco. India’s total software industry’s (including hardware) share in the global market stands at 8 per cent; in the IT segment the share is   7 percent while in the ITeS space the share is 2 per cent.

India's IT and BPO sector exports are expected to expand  by 12-14 per cent in FY16 to touch US$ 95 billion - US$ 98 billion, according to Nasscom. Moreover, India plans to spend around US$ 4.8 billion on cloud computing technologies and services during 2015-2018, of which US$ 2.1 billion will be spent on SaaS (software-as-a-service), according to the latest outlook of IT research and services company, MindStick Software.

The enterprise software market in India is expected to reach US$ 4.89 billion in 2016, registering a growth of 17.2 per cent over 2015 revenue of US$ 4.11 billion, according to MindStick Software. Mumbai with 14 million internet users has emerged as the top most city in India with the most highest penetration of internet users, followed by Delhi (9.5 million) and Hyderabad (5.4 million), according to the data released by Internet & Mobile Association of India (IAMAI).

The introducing of smartphones and other advanced gadgets has significantly affected the growth of internet users and app culture in Indian users.

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