Topics In Demand
Notification
New

No notification found.

Quarterly Industry Review – May 2023

May 31, 2023 806 1 nasscom insights

Quarterly Industry Review – May 2023

Analysis of the Technology industry performance during the quarter ending March 2023. 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.


Listen to this article



Key Highlights

  • Global Economy and Technology Spending
    • As per IMF’s April 2023 estimate, Global GDP is expected to increase by 2.8% in 2023 (0.1% lower than January estimates) indicating cautious outlook and uncertainty across economies.
    • According to Gartner’s projections (as of April 2023), global technology spend growth is expected to witness a y-o-y growth of 10.3% in 2023, anincrease compared with their previous projections of 6.9% (as of January 2023).

 

  • Indian Technology Industry Performance
    • Revenues grew 0.3% q-o-q. On a y-o-y basis, revenue grew around 6.2% in reported currency terms.
    • Among geographies, EMEA was up 3.7%. Revenues for most verticals grew sequentially. Revenues grew for majority verticals sequentially including BFSI, Retail and Healthcare. While Manufacturing and Telecom witnessed decline this quarter

 

  • Indian Pureplay BPM & ER&D Trends
    • Pure-play BPM revenues grew at +1.4% q-o-q, with growth in digital solutions vertical and acquisitions for select companies.
    • Attrition dropped further this quarter as prevailing supply side challenges subside.

 

  • Global Technology Companies Trends
    • Revenues for select set of global companies reduced by 0.9% q-o-q and increased 13.7% y-o-y.
    • Employee additions remained stable with a slight decline of 0.2% q-o-q.

 

  • Start-up Trends
  • Revenues have increased significantly, growing by 5.7% q-o-q and 30.1% y-o-y.
  • Listed firms continue to observe improvement in their losses and are on the path to profitability.

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.