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Industry Landscape
The IT Services and Software Development industry is experiencing robust growth driven by increased demand for digital transformation, cloud adoption, AI/ML, and specialized software solutions across all business sizes. Companies are heavily investing in custom development to enhance efficiency and market reach, fostering intense competition among service providers.
Total Assets Under Management (AUM)
IT Services Market Size in India
~Approximately 200-250 billion USD
(10-15% CAGR)
- Driven by strong domestic demand for digital services.
- Significant growth in cloud, AI, and cybersecurity segments.
- Supported by government initiatives and skilled workforce.
Total Addressable Market
250 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI
Generative AI will revolutionize software development by automating code generation, testing, and documentation, significantly increasing development speed and reducing costs.
Blockchain & Web3
Blockchain and Web3 technologies will enable decentralized applications, enhance data security, and foster new business models built on digital ownership and transparency in the Indian IT services sector.
Edge Computing
Edge computing will enable faster data processing closer to the source, reducing latency and bandwidth usage, crucial for real-time applications and IoT in distributed environments.
Impactful Policy Frameworks
Digital Personal Data Protection Act, 2023
The Digital Personal Data Protection Act, 2023, is a comprehensive law governing the processing of digital personal data in India, establishing data fiduciary obligations and data principal rights.
This act significantly impacts IT services companies by mandating strict data handling, storage, and consent requirements, leading to increased compliance costs and a need for robust data governance frameworks.
National Cyber Security Strategy 2020 (Draft)
The draft National Cyber Security Strategy 2020 aims to create a secure and resilient cyber ecosystem in India, focusing on critical information infrastructure protection and capacity building.
This policy will push IT service providers to integrate advanced cybersecurity measures into their offerings and development processes, potentially increasing demand for specialized security services and compliance audits.
PLI Scheme for IT Hardware (2.0) 2023
The Production Linked Incentive (PLI) Scheme for IT Hardware (version 2.0) introduced in 2023 offers incentives for manufacturing laptops, tablets, All-in-one PCs, servers, and IoT devices in India.
While primarily for hardware, this scheme indirectly boosts demand for IT services related to software integration, customization, and maintenance for locally manufactured devices, fostering a more self-reliant tech ecosystem.
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