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

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

IAF’s Sarang team to take part in MAKS air show in Russia

The air show is a biennial fixture and this year’s

Govt cancels UGC-NET exam, orders CBI probe

The University Grants Commission-National Eligibility Test (UGC-NET) exam was conducted