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

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience

Jewellery Exports Shine Bright

The GJEPC noted that product diversification has played a major role in sustaining momentum. Lightweight and contemporary designs are gaining traction among younger global consumers, helping Indian jewellers appeal to a wider

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
Go toTop

Don't Miss

3 killed and dozens injured in Sambhal clashes 

Officials said that four senior police officers, around 20 policemen,

Malaysian Open: Sindhu enters second round

Chochuwong fought hard to stay in the match in the