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IT spending coming from BFSI, healthcare, education; see IT cycle lasting 3-5 years: Gartner

Updated : April 08, 2021 01:22 PM IST

Gartner has revised their IT services spend for 2021 and this is happening for the third straight quarter. They have pegged it now at over $4 trillion. Naveen Mishra, Senior Research Director at Gartner shared his views in an interview with CNBC-TV18.

“When we look at the orders coming in, it is coming from the combination of BFSI, healthcare, education and slowly we see government spending into the overall IT as well. So it is a combination of these segments that are contributing,” he said.

He further noted that Gartner believes that all the enterprises including IT providers are looking at businesses that evolve around people, technology, work force and the customer experience.

IT companies today are investing into each of these areas making rapid changes so that they can accelerate the digital transformation and prepare themselves for the next five-ten years of the growth opportunities which COVID has laid out in 2020, he added.

He also sees a lot of demand across certain specific skillsets which IT services companies are struggling with.

“So the demand is high, the supply is low. So this is going to be a big part of overall composability, which IT companies are going to focus on,” he explained.

A lot of changes that has been seen during COVID-19 are going to be more permanent in nature and offshoring is clearly one of those aspects, he pointed out.

“Based on the client interaction that we have done so far, I would believe that a lot of the offshoring specially in terms of business continuity, hybrid workforce – these things will remain here for longer-term. I don’t think, it is a knee-jerk reaction, it is going to be more permanent,” Mishra explained.

For more, watch the video…

Published : April 08, 2021 01:21 PM IST

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