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India tech market to grow 8% in 2019: Forrester
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IANS | 20 Mar, 2019
India is the fastest-growing country for tech spending in Asia Pacific,
increasing by 8 per cent in 2019 and by 7 per cent in 2020, according to
a new report from global market research firm Forrester.
Software
and services will post the fastest growth in Asia Pacific, according to
the report entitled "Asia Pacific Tech Market Outlook For 2019 to
2020".
India's hunger for software will continue in 2019 and 2020
as the digital transformation of government and private-sector business
processes remains atop India's agenda, said the report.
Spending
on tech consulting and outsourcing services will bolster IT expenditure
growth in the country, increasing by 11 per cent in 2019 and 16 per
cent in 2020.
China and Japan dominate the Asia Pacific tech
market with about a 60 per cent combined share. India is in third place,
with total spending of around $70 billion, the Forrester report said.
China
will spend $256 billion on tech goods and services in 2019 and Japan is
expected to come in second with $198 billion in tech spending,
according to the estimate which warns that global tech market growth
will slow to 4.5 per cent in 2019 and 3.8 per cent In 2020.
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