The growing digitisation of all industries is fuelling the growth of the IT&ICT (Information Technology & Information and Communications Technology) sector. The following are emerging trends:
Cloud computing: The market for cloud computing is expanding because it gives companies cost savings, scalability, and flexibility.
Automation, data analysis, and intelligent: applications are made possible by artificial intelligence (AI) and machine learning (ML), which are revolutionising many facets of IT and ICT.
Cybersecurity: As our dependence on technology grows, so do the risks associated with it.
Internet of Things (IoT): The market for IoT will expand as more devices become connected.
Big Data and Analytics: Businesses need to be able to gather, store, and analyse enormous volumes of data.
Market size:
The Indian ICT and IT market is projected to reach USD 44 billion (INR 3.65 trillion) in 2024, marking an 11% growth compared to the previous year. This growth is driven by increased investments in digital technologies, including cloud migrations, software development, and AI solutions
Challenges:
⦿ Cyber security threats
⦿ Skill gap
⦿ Data privacy concerns
⦿ Digital divide