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India tech purchases to grow

Anuradha Shukla | March 17, 2015
Nation will lead tech market growth in Asia Pacific for 2015 - 2016.

India tech purchases will grow by more than 10% in rupees during 2015 - 2016, according to a new report by Forrester.

Presently the nation is only the fifth-largest tech market in the Asia Pacific region. There was a slowdown in the Indian tech market since 2010 due to a slow economy and weak rupee.

However, this market is set to come out of this slump and will be the fastest growth market in the region for the period 2015 - 2016.

Forrester Research's latest Asia Pacific Tech Market Outlook report indicates Japan as the largest Asia Pacific tech market but with a slow growth rate (2%).

China, the second-largest tech market in the region will expand by 8% in 2015 and 7% in 2016.

Australia's and South Korea's tech market will rise by 3% and 6% respectively during 2015 - 2016.

Software and tech consulting

In 2016, Asia Pacific markets for software and tech consulting and systems integration services will increase by about 10%.

Computer and communications equipment will increase by 5% in 2015 and 2% in 2016.

Findings of the report indicate that India and the ASEAN countries of the Philippines, Singapore, Thailand, and Vietnam will have better growth in 2015 than in 2014.

Forrester advises CIOs in the Asia to invest more in the purchases of software and tech services this year.

"For CIOs in Asia, especially those that support the BT (business technology) agenda for winning, serving, and retaining customers, 2015 should be the year to accelerate purchases of software and tech services, thereby driving top-line revenue growth," said Frederic Giron, VP and research director at Forrester.



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