As per a PwC report, the technology sector witnessed an unprecedented US$ 11.2 billion private equity investment in 2017. As the sector looks to cloud computing, artificial intelligence, internet of things and big data, there are tremendous opportunities for growth for companies of all scales and sizes, for the well-established players as well as start-ups. As technology is providing companies with solutions for their back and front-end of business, redefining their business models and margins as well as giving them cutting edge solutions, the growth curve for this sector will continue to climb northwards. Moreover, the reasons for growth will come not only from the positively-buoyed Indian economy with companies across sectors showing good growth, but also from the international markets, which are on a recovery quadrant. The Indian government’s Digital India movement would add further fillip to the sector.
IT as a function is now a partner in business. It is getting the solutions on board for the internal customer, redefining the ways of doing business, lending customer orientation to the front-end and helping the organization to adapt to changing market realities. And this is happening across sectors.
Technology will enable consumer goods companies to build supply chain efficiencies, thereby bringing into play the benefits of GST implementation. Investments in infrastructure will greatly benefit from technological solutions which can make projects more robust and project completion much tighter. The government itself is emerging as a big consumer of technology, seeking solutions to digitise its operations and processes.
The Indian IT sector is shifting gears to becoming more solution-oriented and trying to upgrade their offering. In this effort of premiumization, the skill sets and areas they need to ramp up are high-level design, architecture and user experience product management for instance. Companies would be looking to migrate a lot of their work to cloud. Demand for digital experts will increase manifold. An accompanying area that will keep on growing as the digital cloud progressively covers processes and data, is cyber security.