August 24, 2022
1 min read

‘India application software spending to grow 15%’

The increased spending will be directed towards improving customers’ digital experiences….reports Asian Lite News

End-user spending on enterprise application software in India is likely to total $4.7 billion in 2022, an increase of 14.8 per cent from 2021, a Gartner report said on Wednesday.

However, the growth in software spending will be lower in 2022 than in 2021 owing to a volatile global macroeconomic situation that has increased business uncertainty.

“Organisations will continue to put new long-term projects on hold selectively and cut the scope of high-cost projects and instead look to ‘quick win’ projects that either have a shorter return on investment (ROI) or provide a competitive edge,” said Neha Gupta, vice president analyst.

The increased spending will be directed towards improving customers’ digital experiences.

“Driven by the digital transformation agenda, Indian enterprises will continue to expand the share of software spending in their broader IT spending. Organisations are increasingly relying on software to operate all aspects of business,” Gupta added.

Applications critical for maintaining the quality of customer service, like supply chain management (SCM), supply chain execution (SCE) and customer relationship management (CRM), will see increased spending as organisations look to address complex supply chains and volatile marketplaces, and more effectively adapt to change and disruption.

Spending on CRM software is forecast to grow 18.1 per cent in 2022, while SCM software spending will increase 10.2 per cent.

Indian businesses will also increase spending on email and authoring and content services to continue to support collaboration and remote/hybrid work, the report mentioned.

ALSO READ: India’s raise in fintech sector global funding  

Previous Story

How China preserved India’s cultural brilliance

Next Story

‘Rising interest rates may hurt home sales’

Latest from Business

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite News Microsoft is set to cut around 9,000 jobs —

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding
Go toTop

Don't Miss

Visteon gears up to tap Indian market

Lawande also said Visteon is also mulling another greenfield facility

India needs to develop new strategy on China

Any Indian strategy must counter the Chinese philosophy which seeks