Being the 5th largest tech industry in the Asian Pacific region India has always displayed huge potentials. Technology consumption of the country is estimated to grow by 10% according to INR making it the fastest growing region in APAC for 2015-16. Going by the investments both national and international; India is projected to have many more IT (Information Technology) parks and computer based jobs in the coming years. According to the popular research organization the country is all set to score the highest growth percentage and lead the Asian Pacific part of the world as far as the IT industry is concerned. The APAC region is long renowned to be the hub of tech products sales; it has the biggest sales numbers for decades now both in software and hardware segments.
IT trends in India in recent years:
The IT industry is going around $30 billion since 2010. Weak economy during 2012-13 has hurt the spending in the technology sector. The growth rate in 2015 is expected to creep up to 13%. It was 2012-13 period where the total growth rate dipped to less than 5%. The changeover of the government bought about changes in the policies which has being successful in inducing interest in the investors worldwide. With all the support available the growth rate is again set to touch a healthy level of 6.6% for the year 2015 and it is expected to stay at 6.5% in 2016.
How’s it going for other countries?
China and Japan have been hubs for technology industry for years now. It is projected to have a growth rate of 8% in 2015 and will come down to 7% in 2016. Japan the largest tech industry in Asia is expected to have a growth of 2% whereas Australia and South Korea are expected 3% and 6% growths for the ending 2015.
Category wise Software will experience the fastest growth of all products sold under the IT sector. However, hardware market would be massive as the quantities sold would be more and it will outdo its counterparts. Computer peripherals and communication devices sales will be healthy and APAC region will keep up the leading position in terms of hardware business; it will witness a rise of 5% by the end of 2015 and is likely to have a 2% hike by 2016.
The software business in the region is estimated to increase by 10% by the finish of 2016 and the market is projected to increase beyond that.
IT trends in India in recent years:
The IT industry is going around $30 billion since 2010. Weak economy during 2012-13 has hurt the spending in the technology sector. The growth rate in 2015 is expected to creep up to 13%. It was 2012-13 period where the total growth rate dipped to less than 5%. The changeover of the government bought about changes in the policies which has being successful in inducing interest in the investors worldwide. With all the support available the growth rate is again set to touch a healthy level of 6.6% for the year 2015 and it is expected to stay at 6.5% in 2016.
How’s it going for other countries?
China and Japan have been hubs for technology industry for years now. It is projected to have a growth rate of 8% in 2015 and will come down to 7% in 2016. Japan the largest tech industry in Asia is expected to have a growth of 2% whereas Australia and South Korea are expected 3% and 6% growths for the ending 2015.
Category wise Software will experience the fastest growth of all products sold under the IT sector. However, hardware market would be massive as the quantities sold would be more and it will outdo its counterparts. Computer peripherals and communication devices sales will be healthy and APAC region will keep up the leading position in terms of hardware business; it will witness a rise of 5% by the end of 2015 and is likely to have a 2% hike by 2016.
The software business in the region is estimated to increase by 10% by the finish of 2016 and the market is projected to increase beyond that.