India's IT spending to grow 10% to $73.3 billion in 2015: Gartner

New Delhi: IT spending in India is expected to reach $73.3 billion in 2015, a 9.4% increase from the 2014 forecast, according to market research firm Gartner.

"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."

IT services will record the strongest revenue growth at 15.7% in 2015, as per Gartner. Software will grow at 14%. Devices will continue to account for the second largest part of the market with 33% share of revenue and will grow 12.6% in 2015. The telecommunication services segment will account for 39.3% of the Indian ICT market and it is set to grow at 4.2% revenue growth in 2015.

In 2014, mobile devices will grow 13.5%, and will dislodge mobile voice services to be the largest segment within the overall IT market in India. Mobile data services will be the fastest growing segment in India, growing 18.2% in 2014, Gartner said.

"The impact that the digital business economy is having on the IT industry is dramatic. Since 2013, the number of Chief Data Officers and Chief Digital Officer positions have doubled. In 2015, all of these things will double again," said Sondergaard.

Gartner defines 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."

According to Gartner, digital businesses will impact jobs in different ways. By 2018, digital businesses will require 50% fewer business process workers. However, by 2018 digital business will drive a 500% boost in digital jobs. Hottest skills in digital business will be in mobile, user Experience and data sciences.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.