IT sector bets on social media, cloud
Information technology sector in India, which contributes the highest to the country’s service exports, is expecting social media, mobility, analytics and cloud (SMAC) to drive its growth in 2016 and beyond, with ample support from the ongoing revolution in startups space.
Nasscom chief sees positive momentum driven by Digital India, Centre’s upcoming startup policy
Hyderabad: Information technology sector in India, which contributes the highest to the country’s service exports, is expecting social media, mobility, analytics and cloud (SMAC) to drive its growth in 2016 and beyond, with ample support from the ongoing revolution in startups space.
“In my view, SMAC will drive the next wave of growth for the Indian IT Industry, aided further by startups. The disruption that is currently being witnessed by the industry is only going to evolve faster in the coming years, catalysed by the continued migration to the digital world,” said Nasscom Chairman BVR Mohan Reddy, giving his outlook for the IT sector in 2016.
The software industry body chief said the growth forecast looked positive, with the Indian government drafting a new policy for startups, and initiatives like Digital India gaining momentum.
According to him, the 2015 was a good year wherein the industry had not only gained stability but also started picking up momentum. “I expect the momentum in the industry to continue at least until 2017. Economies and Industries which are best suited to adapt to the fast-paced changes will thrive in 2016,” Reddy maintained.
The Nasscom chief felt that technology would penetrate deeper into some key sectors such as agriculture and healthcare. “Newer catalysts like the Internet of Things (IoT) will further provide more opportunities not only for innovations, but also for addressing industry-wide challenges such as that of analytics and cyber security,” he said.
He further stated that only three types of companies would exist in future. “In my opinion, we will have three types of companies in future - those which make, create or build technology; those which enable technology and those which consume technology,” he explained. Progress India Managing Director Ramesh Loganathan said that digital business transformation technologies would move beyond experimental stages and go mainstream in 2016, leveraging cloud, mobile, etc., for process efficiencies and delightful customer experiences.
“Business solution-based products, services and selling, delivering customer delight through business insights gleaned leveraging the extensive business activity data, are becoming easily available,” said Loganathan, who is also president of the Hyderabad Software Enterprise Association (Hysea). The IoT has been moving up to more substantial business solutions integrating with data and services in the cloud as well as within the enterprise, he added.
Besides, the healthcare IT market is also expected to grow rapidly in India as many hospitals are keen to use digital technologies for creating seamless treatment processes. “The healthcare IT market which was valued at $830 million in 2014 is expected to reach $1.60 billion by 2019,” said BioAsia CEO Shakthi Nagappan.
By:P Madhusudhan Reddy