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GARTNER HYPE CYCLE SOCIAL MEDIA SOFTWARE
While experiencing a slower growth rate than 2021, spending on software in 2022 is forecast be nearly double of what it was pre-pandemic. Spending on software is forecast to total $10.5 billion in 2022, up 14.4% from 2021 (see Table 1). In 2022, all segments of IT spending in India are expected to grow, with software emerging as the highest growing segment. Next year, Indian CIOs are prioritizing a move away from rigid and monolithic ways of doing business to a more composable business and IT architecture where they will be able to better respond to disruptions. Hiring a workforce that can deliver on these needs will also be a key priority. Indian CIOs are likely to increase their spending towards projects that drive innovation and modernizing legacy systems. In 2022, CIOs in India will build on renewed interest in technology from the business to gain funding for new IT projects.” “India has experienced one of the fastest recoveries despite being one of the worst hit regions in the second wave of the pandemic in early 2021. “The digital transformation trajectory that began as a pandemic response is here to stay for the next few years,” said Arup Roy, research vice president at Gartner. IT spending in India is forecast to total $101.8 billion in 2022, an increase of 7% from 2021, according to the latest forecast by Gartner, Inc.