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The Future of IT Industry In India

Introduction

Incredible technical advancements over the last few decades have changed the entire world. We now have access to various tools and resources thanks to technology, which puts any information at our fingertips.

Today, the internet is actively used by about 4.35 billion people. That’s a stunning 56% of the world’s population, with India coming in second. And from here, it’s all uphill.

India’s IT industry is growing at an incredibly rapid pace, and those who are unable to keep up are simply left behind. The way we interact, do financial transactions and even watch TV has all altered as a result of technology. The IT sector is without a doubt seeing massive growth. Can you use Indian IT talent to stay one step ahead of your rivals is the key question. Is India at the leading edge of technological advancement? Let’s check.

IT Technology in India: The Past

Particularly in terms of economic growth, India has generally looked to be a bit of a relative slacker among developing nations. The country’s IT revolution, which made the Indian software industry one of the most successful in the world today, however, changed that.

The outsourcing of software to specialised software companies helped the IT industry rise in the late 1970s. In the uncharted territory of technology, it was quick, simple, and practical. Due to the severe lack of skilled engineers who could design original software, the early 1980s were all about “prepackaged” software.

However, project-driven software services emerged again in the 1990s, sparking the industry’s explosive high growth rates in India. After the local industry had established itself, international firms started opening their own research and development centres there, commencing with Texas Instruments in 1986.

What can we expect in the next 10 years?

With technology and innovation, the world is going to face significant change during the next 10 years. And it’s important to understand which technologies to apply as a stakeholder in an IT firm if you want your organisation to keep up with the competition and make big profits.

The following IT recent advancements will have a major impact during the next ten years.

Artificial Intelligence & Robotics

artificial-intelligence-robotics

Even though the idea of artificial intelligence has existed for well over 60 years, it has only recently gained popularity. AI has the unique ability to transform corporate strategy thanks to passive operational power and storage.

AI is predicted to take over, and it will. Self-driving cars, robotics, innovative teaching techniques, even personalised pharmaceuticals — AI is going to rule the world.

Internet Of Things (IoT)

According to a recent survey, more than 86% of respondents plan to considerably expand their IoT expenditure during the next two years. The poll also showed that, in order to digitally modernise their business models, US businesses invested a median of $4.6 million in IoT in 2018. 

In the next 20 years, sensors will be attached to nearly everything, covering machinery, equipment, heating systems, security systems, and pretty much anything else. The Internet of Things will be important to this development.

Augmented Reality

Thanks to developments in information technology over the last ten years, vr technology is no longer the stuff of science fiction. While earlier AR initiatives were few and far between due to the expenditures required, technology has now made it possible for AR to be used even on mobile devices. 

Future applications for augmented reality will also include education, the arts, architecture, the military, and navigation—the possibilities are virtually limitless.

Blockchain

block-chain

Many businesses are now interested in blockchain, and many countries have realised its huge economic potential. In 2016, the use of this revolutionary innovation increased in India as numerous banks and business giants began experimenting with it for a variety of use cases. 

The most popular Blockchain use case is Bitcoin, which has been done successfully across the nation with many exchanges and wallets spread throughout. As a result, the Indian government is the most significant shareholder and blockchain facilitator. The Indian BFSI is leading the way in adoption.

Intelligent Automation

Intelligent automation, which combines automation and AI, has the ability to change business practices across almost all economic sectors. Massive volumes of information are detected and synthesised, and it can automate full workflows while learning and adapting as it goes. 

The consumer packaged goods (CPG), financial services, and retail sectors are boosting global investment in intelligent automation. In the upcoming years, it’s predicted that India’s IT sector would continue to invest in automation and AI.

Where is India in this everlasting IT race?

Simply put, at the very top.

India regularly creates about 1.5 million engineers, and the number is only increasing. As a result, India is host to some of the top tech talents in the world. That’s not all, either. With over 55% of the market share for US sourcing, India is also the most favoured sourcing location globally. India is becoming the world’s digital hub, with more than 1,000 global delivery hubs spread over 80 nations.

Bangalore, one of the world’s most vibrant cities and the Silicon Valley of Asia, is located in India. Bangalore is a hub for many start-up businesses, international software firms, and IT firms that use cutting-edge technology to bring unique products to the market. India is definitely where the future is at this very moment.

growth-of-it-industry

Will offshore software development prove beneficial?

Modern software and top experts are needed to implement the latest IT technology. Modern software is simple to obtain, but obtaining skilled employees in the West is a major challenge. With more engineering job openings than ever, businesses are increasingly looking to offshore software development, this is only a long-term solution.

Companies can access a vast talent pool of top-notch engineers who are ready for hiring by setting up an offshore development centre in a nation like India. These English-speaking engineers are educated about technology and are devoted, hard-working people who can bring value to your current workforce.

The decreased operational costs are yet another benefit of moving business overseas. You can save a lot of money on salary, employee-centric benefits, rent, and other management fees because of the low cost of living in Asian nations.

These advantages have also helped big businesses like Google, Microsoft, SAP, and Intel set up research and development centres in Bangalore, the Silicon Valley of Asia. They use the most recent IT techniques to develop novel and cutting-edge software without sacrificing the calibre or timeliness of the final product.

Conclusion

The question, “What is the future of the IT industry in India?” should now be fully clear to you. It goes more than that. The information technology sector as a whole is huge and continues to expand. 

India has evolved over the last ten years into an IT hub for international software companies, with Indian software firms holding important positions in the global IT industry. India has risen to become the top market for procuring IT services worldwide. 

India’s IT sector has a unique selling position on the international market since it is three to four times more cost-effectively competitive than the US. India’s IT sector has constantly grown faster and stronger despite the uncertain global economy.

So in all the above points we conclude that the future of the IT Industry in the next few years is tremendous & it is growing beyond their limits.

 

Author

Hardik

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