LONDON--(BUSINESS WIRE)--Adoption of social, mobile, analytics, and cloud services (SMAC) technologies by enterprises has resulted in growth of the IT Market in India, which is expected to post a CAGR of 12.44 percent from 2014-2018, says research firm TechNavio.

“SMAC technology is going to be a major driver of the IT market in India, as the technology has inherent benefits in helping enterprises enhance their revenue and enable product differentiation,” says Faisal Ghaus, Vice President of TechNavio.

India has 920 million telecom subscribers, 40 million smartphone users, and 213 million internet users. This technology provides a platform for SMEs to compete with the large players. Additionally, India is the third fastest growing app market, estimated at over US$48.9 million with over 300 million app downloads.

“The tech sector is booming across the board. New Technologies like robotics, artificial intelligence, 3-D printing, cloud computing, e-commerce and nanotechnology are all emerging trends expected to drive growth in the IT the industry in India,” says Ghaus.

The Indian Government is expected to spend US$6.4 billion on IT products and services in 2014, and has issued land allotment letters to more than 20 SMEs to facilitate the set-up of units, in order to inject the IT sector in the country with further growth potential.

Key Information Covered in the Report:

• Market segmentation, size and forecast through 2018
• Market Growth Drivers:
• Market Challenges:
• Market Trends:
  • New Technologies
  • For a full detailed list, view our report.
• Key Vendors:
  • HCL Technologies Ltd.
  • Infosys Ltd.
  • TCS Ltd.
• Other Prominent Vendors:
  • Aegis
  • Capgemini India
  • CSC India
  • Firstsource Solutions

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