Despite economic volatility, IT spending will grow 16.3 per cent in 2012, according to market research firm International Data Corporation (IDC).
The total IT market is expected to grow to $43.57 billion in 2012 from $37.46 billion in 2011 and the contribution of enterprise IT spending by the SME segment is expected to grow 43 per cent by 2015 from 38 per cent last year, the statement said.
Traditional verticals such as BFSI, communication & media, government, manufacturing and IT/ITeS continued to be the highest spenders in 2011, with a compounded annual growth rate of about 18 per cent, a statement from IDC said, adding that “the trend is expected to continue”.
According to the statement, retail & wholesale, energy and utilities, and healthcare grew over 23 per cent in IT spending last year.
“Cautious optimism will continue to be the order of the day for most enterprises. However, this is not expected to reduce IT investments. It merely indicates that future investments will undergo intense scrutiny and that effective financial and risk management will gain priority,” said Mr Ravi Sharma, Research Manager, Consulting Group, IDC India.
“Political initiatives are increasingly driving demand for IT Hardware,” he added.