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TECH BYTES – Monthly Tech Industry Bulletin February 2023

February 16, 2023 699 0 nasscom insights

TECH BYTES – Monthly Tech Industry Bulletin  February 2023

This monthly industry bulletin is our endeavor to aggregate and feature on a regular basis, key trends and insights shaping the technology sector. The information covered here is collated from publicly available sources and gives a bird’s eye view of what has happened in the technology sector during a particular month. The report will focus on a theme for the month and Industry Facts.

Key Highlights:

What is New @nasscomR

Highlights from NASSCOM Reports Released in January 2023

  • Metaverse – Prepare To Win
  • Designing The Enterprise Of Tomorrow: Cloud Computing – A Compendium Of Case Studies

Theme of the Month: Metaverse – Prepare To Win

Key Insights

  • Metaverse definition is converging, with familiar components integrated into a novel technology:
    • Metaverse is a digital extension of the real world, defined by 4 attributes – Persistent, immersive virtual worlds, Interoperability, Concurrency, and Users having agency.
    • This novel internet avatar has seen accelerated development since 2020, driven by 6 factors including technology revolution, consumer readiness, rise of consumer-led marketing; significant PE, VC and M&A investment announced in metaverse.
  • While early adoption is strong, full-scale vision will emerge in 8-10 Years:
    • Enterprise and consumer metaverse adoption trends are similar to those of AI and internet in their early stages, 55%+ CXOs have at least one active Metaverse use case.
    • At-scale potential will be determined by factors –
      • Clarity on return on investments – CXOs find it difficult to justify RoI.
      • Technology readiness – nearly 1000X compute power needed.

Leader Talk: Discussion Series with Industry Experts on Niche Areas of Technology

  1. How Gen Z & Millennials are reshaping the Future of Workforce
    Panellists: Newgen Software, TATA Technologies
     
  2. Gig - The New Work Model
    Panellists: Giggr Technologies, Pactera EDGE

Tech Industry Insights- Trending Industry Themes

  • Tech Trends: Indian IT companies focus on Cloud technologies globally through setting up centres for better customer experience. Indian companies are helping global business transform their operations digitally.
  • ER&D Trends: Indian ER&D companies and institutes collaborate with global companies to explore digital manufacturing space.
  • Tech Start-ups: Deals worth Rs 196 Cr in funding startups signed at IIIE Conclave. Agritech sector accelerates with big techs investment.

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.



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