The Indian IT and business services market reached $7.15 billion and recorded a 7.4 per cent year-over-year (YoY) growth in the second half of 2022, compared to 6.4 per cent in the same period last year, an IDC report said on Tuesday.
Despite a looming recession, the global IT and business services revenue is expected to grow 5.7 per cent this year and 5.2 per cent in 2023, according to an IDC report.
The public cloud services market in the Asia-Pacific region is likely to reach $165.2 Billion in 2026, according to an IDC report. The firm expects the Asia/Pacific public cloud market to grow at higher year-over-year (YoY) rate at 31.4 per cent this year, in comparison to 30 per cent in 2021, as cloud migration continues to accelerate.
Industries which were highly impacted by the pandemic (personal & consumer services, transportation, and discrete manufacturing resources) suffered reduced IoT investments in line to their reduction in overall IT spend.
