What is the growth rate of IT industry in India?

The rate of growth in the IT sector for 2019-20 is approximately ten percent. The Indian IT industry has grown rapidly with an exponential growth rate after the economic reform of 1991-92. Indian IT companies have set up thousands of centres within India and around 80 countries across the world.

How fast is the software industry growing?

The global software products market is expected to grow from $930.93 billion in 2020 to $968.25 billion in 2021 at a compound annual growth rate (CAGR) of 4\%. The market is expected to reach $1493.07 billion in 2025 at a CAGR of 11\%.

Is the IT industry growing?

CompTIA projects the global information technology industry will grow at a rate of 3.7\% in 2020. The optimistic upside forecast is in the 5.4\% range, with a downside floor of 1.9\%. Growth expectations for the U.S. market are in line with the global projection.

What is the growth rate of IT industry?

Status of IT Software and Service Industry in India The Indian IT software and service industry has emerged as one of the fastest growing sectors in the Indian economy, with a growth rate exceeding 50 per cent in exports and 40 per cent in the total IT industry over the last five years.

Is software a growing market?

The global business software and services market size was valued at USD 389.86 billion in 2020….

Report Attribute	Details
Market size value in 2021	USD 429.59 billion
Revenue forecast in 2028	USD 911.77 billion
Growth rate	CAGR of 11.3\% from 2021 to 2028
Base year for estimation	2020

What are the current IT trends?

Information Technology Trends

• Cloud Computing. One of the biggest trends that have emerged during the past year is that of cloud computing.
• Mobile Apps.
• Big Data Analytics.
• Automation.
• Artificial Intelligence.
• Smart Technology.
• Virtual Reality.
• Augmented Reality.