Topics In Demand
Notification
New

No notification found.

NASSCOM 2021 CEO Survey: The Year of Many Possibilities

March 3, 2021 2565 0 BPM IT Services

NASSCOM 2021 CEO Survey: The Year of Many Possibilities

As one of the source material for the annual Strategic Review report, NASSCOM Insights conducts a survey amongst CEOs of member companies that focuses on industry expectations for the coming year. The 2021 edition is titled “NASSCOM 2021 CEO Survey: The Year of Many Possibilities”, and like in the past 3 editions, the survey underlines the perspectives of India based tech CEOs towards the global economy, global technology spending, tech spend drivers, Indian tech industry outlook, talent hiring trends and talent capability development focus in 2021-22.

2565

0

Download

The global pandemic hit every nation, disrupting business as usual for almost all the industries, causing others to rapidly pivot from in-person to digital and forcing millions of people into work-from-home situations, much of which is likely to persist well into 2021. For many companies, COVID-19 did deep damage, forcing leaders to adopt new strategies to weather the ongoing storm.

As one of the source material for the annual Strategic Review report, NASSCOM Insights conducts a survey amongst CEOs of member companies that focuses on industry expectations for the coming year. The 2021 edition is titled “NASSCOM 2021 CEO Survey: The Year of Many Possibilities”, and like in the past 3 editions, the survey underlines the perspectives of India based tech CEOs towards the global economy, global technology spending, tech spend drivers, Indian tech industry outlook, talent hiring trends and talent capability development focus in 2021-22.

This year’s edition saw participation from over 120 tech CEOs, including a healthy mix of respondents by size- large/medium/small, and ownership- Indian/MNC/GCC.

Key Highlights

Economic Outlook in 2021

  • 97% CEOs believe that the global economy will be better in 2021 as compared to 2020
  • Healthcare, pharma, medical devices and software & internet verticals to be the key growth sectors
  • larger digitization deals and growth in core markets (BFSI, retail, etc.) to be prominent growth drivers in 2021

Technology Spending in 2021

  • 71% CEOs expect global tech spend to grow in excess of 4%, demonstrating the highest ever confidence in tech spending growth
  • Robotics, Advanced analytics/AI, cybersecurity, RPA/robotics, Cloud and IoT will be key technology focus areas in 2021
  • Re-designing products/services, enhancing customer experience, and unlocking new revenue opportunities are the top customer spend themes for technology in 2021

Indian Technology Industry in 2021

  • Highest ever confidence on revenue growth for incoming year– 91% CEOs believe that the Indian tech industry growth will be better in 2021
  • Key growth segments
    • IT services– cloud migration and managed services, infrastructure outsourcing and system integration
    • Software products– data analytics, cybersecurity, collaboration software
    • ER&D– sustainability engineering, cloud engineering, data monetization, supply chain
    • BPM-hyper-automation, Bizdevops, platform solutions, AI & analytics

Hiring Outlook in 2021

  • 95% CEOs to continue hiring in 2021- indicating highest ever confidence in tech hiring outlook
  • Higher prevalence of hybrid model- 70% CEOs expect remote workers to constitute up-to 50% workforce in 2021
  • Gig economy gets a boost- 70% of CEOs expect gig workers to constitute up-to 10% of workforce in 2021
  • Reskilling and building the right talent pool, products and platforms, and new business model expertise (risk-reward, onshore) are the top capability building priorities in 2021

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.