Topics In Demand
Notification
New

No notification found.

2022 Tech CEO Survey: Industry Outlook

February 16, 2022 4166 1 BPM IT Services

2022 Tech CEO Survey: Industry Outlook

In the midst of the Covid crisis, globally, we are witnessing a period of ‘resilience’ as economies and businesses are recouping from the pandemic-induced damages, while navigating the ever-changing dynamics around them. Owing to these paradigm shifts, enterprises across the world are altering their strategies and reinventing themselves on multiple fronts as they enter 2022. Each year, NASSCOM conducts a short survey aimed at gathering insightful responses from industry leaders, which helps us understand the technology industry outlook, as well as sense the overall economic and business sentiment. This year too, we carried out a similar exercise through the “NASSCOM 2022 Tech CEO Survey: Industry Outlook”, commencing January 2022, so as to comprehend the pulse of the Indian tech industry, across key parameters pertaining to business priorities and challenges, industry outlook, key growth verticals/sectors, tech spending as well as talent and hiring models. Moreover, the survey underscores high-level insights on global economic and business outlook, global tech spend and key tech focus areas; as well as the perspectives of end-user enterprises. Responses collected from ~130 CEOs including key stakeholders in the technology industry hailing from Large, Medium and Small-size IT firms, Global Capability Centers (GCCs) and Start-ups, have been aggregated in the form of a comprehensive report that captures key findings and actionable insights.

4166

1

Download

Key Highlights

Economic and Business Overview

  • A ‘cautiously optimistic’ global economy expected to grow at 4.4% in 2022. India’s FY2023 GDP growth projected at 8-8.5% - ~2X of global
  • Business outlook expected to be ‘optimistic with a prudent undertone’. Employee-focused businesses adopt a ‘people-first’ approach, on the back of talent crunch and the ‘Great Resignation’
  • Key Strategic Focus Areas - Digital Transformation and exploring additional revenue streams from untapped markets/geographies/verticals
  • Key Differentiators - Accelerated Innovation and Partnerships/alliances with startups, academia and customers

Global Tech Spend Outlook

  • Majority of the CXOs anticipate global tech spend to be marginally higher than 2021
  • End-user enterprises expect average tech spend in excess of 6%. Top 3 tech use cases - Customer Service, Sales & Marketing, Supply Chain
  • Key Tech Priorities- Cloud, BDA & AI/ML/NLP, Cybersecurity. IoT/Edge Computing expected to gain predominance driven by Data interoperability and hybrid/remote-working

Indian Tech Industry Outlook

  • 70% Indian tech enterprises expect tech industry to grow at  a rate similar to 2021 levels
  • ~75% CEOs project a healthy uptick in average deal pipeline (surpassing 10%) in 2022
  • 57% CEOs expect to increase 2022 R&D spend by over 10% as compared to 2021
  • BFSI, Manufacturing, Healthcare and Retail/e-Commerce top sectors driving tech growth

Hiring Outlook/Digital-oriented Talent Landscape

  • ~90% CEOs expect to hire similar or more than what they hired in 2021
  • Digital talent to constitute upto 50% of new hires. Up-skilling/re-skilling of employees continues to be a prime focus area
  • Gig workforce and hybrid model continue to gain  momentum in 2022
  • ~60% CEOs expect at least half of the workforce to return to office in 2022

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



LATEST REPORTS

© Copyright nasscom. All Rights Reserved.