30 Interesting Facts and Numbers About The Indian IT Industry
Our access to technology underpins a large portion of our professional and personal lives. Technology is a big part of what we do every day, from personal web access to business platforms, third-party providers, and apps, and it’s only going to get bigger. Information technology is a large industry in India that includes consulting, outsourcing, and information technology services.
India’s IT industry contributed 8% to its GDP in 2020. If the country harnesses cloud, AI, cybersecurity, and other emerging technologies, its technology services industry may reach $300–350 billion in revenue by 2025. Here are some essential technological and statistical facts that you should be aware of.
Growth of Information Technology Industry in India
It was unthinkable thirty years ago that four of the top ten IT companies would be Indian and that they would ever rule the IT sector. Nobody ever imagined that Indian businesses would be giving Americans jobs and that its people would make up a sizable portion of the IT workforce in the US.
- It is encouraging to see that they are in executive roles at the leading IT firms in the USA and other nations.
- The dominance of the IT sector can be understood by the fact that more than 12% of all internationally renowned startups are from India.
- Since the start of Indian software exports in 1974, the country has become the global back office.
30 Interesting Facts and Numbers on the Indian Software Industry
As mentioned, the nation is considered the hub of information technology. The country is at the centre of global attraction and is regarded as a knowledge powerhouse. The 21st century is predicted to be driven by technology.
The country will have many known and unknown facts of which the developers and the users should be aware. Here are some interesting facts and statistics about the software development industry in the country.
- With a significant impact on the GDP and welfare of the nation, the IT and BPM sectors have emerged as one of the country’s most important growth drivers.
- In 2022, it was estimated that the Indian software market would spend roughly 10.5 billion dollars on IT.
- The coronavirus (COVID-19) pandemic, which sped up the process of digitalization for many businesses, was blamed for the increase in spending when compared to 2020.
- Microsoft, Oracle, and IBM are the market leaders in the enterprise software sector globally.
- In 2021, the software as a service (SaaS) market in the country brought in 8.2 billion dollars.
- SaaS companies are forecast to generate over 116 billion dollars in revenue by 2026.
- Sales made internationally accounted for more than 70% of total revenue.
- Its end-user spending on public cloud services is anticipated to increase from 2020’s 4.2 billion U.S. dollars to reach 7.3 billion U.S. dollars in 2022.
- Cloud system infrastructure services, which are expected to generate end-user spending of over 2.3 billion dollars in 2022, are the most popular category of public cloud services.
- Even though the nation is still in the early stages of adopting cloud services, the COVID-19 pandemic has sped up the process because of the increased demand for remote working and business continuity.
- Tata Consultancy Services, the largest supplier of consulting and IT services in the nation, had approximately 1.6 trillion Indian rupees in net sales as of June 2022.
- With its corporate headquarters in Mumbai, TCS is a multinational Indian information technology company.
- Infosys was the second-largest information technology company in the nation that year.
- The Information Technology (IT) business in the country experienced a real explosion in 1995–1996. It was a boom year for the country’s computer industry.
- There are currently over 500 software companies in the nation, and there are an additional 1,000 start-up businesses on top of these.
- The nation has become the most popular location for BPO, which is a major factor in the expansion of the software business and the service sector.
- Early in 2022, the IT industry displayed an astounding growth rate of 15.5%, which is nearly twice as fast as the national economy.
- More women are working in IT than in any other industry at this time.
- Out of the 50 lakh IT employees, women make up about 20 lakh. In the IT industry, there are about 18 lakh female employees.
- The DPIIT estimates that there are over 75,000 startups in the nation.
- About 12% of all known startups are in the IT sector, compared to 9% in the life sciences and healthcare, 7% in education, 5% in agriculture, and 5% in commercial services and business.
- In the country, the market for data annotation was estimated to be worth $250 million in 2020.
- By 2030, this industry could be worth $7 billion due to the rise in demand for artificial intelligence (AI).
- In 2020, there have been 13 lakh cyberattacks or attempts.
Budgets are continually growing to support these initiatives as businesses continue to rely heavily on technology as a driving force. Despite persistent skill gaps, there are still many opportunities for technological growth and expansion, making it difficult to find resources for innovations.
We learned more about the intriguing statistics and facts related to the sector in this article. It will help you see just how far the nation has advanced into becoming a world-class location for software development. The country still has a lot of work to do.
