Topics In Demand
Notification
New

No notification found.

Quarterly Industry Review –June 2024

June 5, 2024 31744 0 nasscom insights

Quarterly Industry Review –June 2024

Analysis of the Technology industry performance during the quarter ending March 2024. This analysis is based on the quarterly financial results declared by the top listed Technology companies. The report covers a brief analysis on the performance of Indian technology companies, pure-play BPM companies, pure-play ER&D companies, Global tech companies and Start-ups.

31744

0

Download

Key Highlights

  • Global Economy and Technology Spending
    • Global GDP is estimated to increase by 3.2% in 2024 (0.1% higher than January estimates) and 3.2% projected in 2025 (same as January estimates).
    • Worldwide software and IT services spending expected to witness a y-o-y increase of 11.4% in 2024, higher as compared with their previous projections of 10.3% (as of January 2024).
       
  • Indian Technology Industry Performance
    • Revenues grew 0.2% q-o-q, and 1.2% y-o-y in reported currency.
    • North America (+0.3%), EMEA (+0.6%), India (+7.2%) grew sequentially, while Rest of the world (-4.5%) witnessed a q-o-q decline. Sequential revenue growth for Telecom, Travel and Hospitality, and Healthcare vertical. On the other hand, BFSI, Manufacturing Energy & Utilities, and Retail vertical declined q-o-q.
    • The employee base declined by 0.4% q-o-q in Q4FY24 due to ongoing demand contraction, organizational restructuring, and decreased discretionary spending.
    • Segments:
      • Pure-play BPM revenues grew at +1.3% q-o-q, with net margins under pressure.
      • Pure-play ER&D revenues grew +3.9% q-o-q while net margins declined slightly.

 

  • Global Technology Companies Trends
    • Revenues for the select set of global companies declined by 4.2% q-o-q and increased 2.7% y-o-y.
    • The employee count declined in Q4FY24.

 

  • Start-up Trends
  • Revenues declined by 1.5% q-o-q and increased 29.4% y-o-y.
  • Tracked New Age Listed firms were successful in becoming profitable in Q4FY24.

Find the full report at NASSCOM Website.

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.