Published on : Dec 14, 2016
ALBANY, NY, Dec 14, 2016: The report states that the number of strategic mergers and acquisitions will rise in the IT industry over the report’s forecast period. Factors such as the rapidly expanding product portfolios of key IT companies, increased demand for IoT (Internet of Things) across several industry verticals, and the ensuing intense competition will encourage It companies to adopt such strategies to maintain their foothold in the global market.
The report states that despite market uncertainty in the face of stagnancy and low potential demand across mature markets and the concerns regarding retention and recruitment of skilled resources will continue to bother the IT industry over the said period, companies are still willing to invest in geographical expansion ventures. Over the next six months, IT companies are expected to increase their focus on development of new products and expansion in current and new markets.
The IT industry is expected to gain traction across developing countries such as India, China, and Brazil owing to rising investments in the fields of big data analytics, IoT, and the increased focus on digitization of several government processes and operations. On an average, the IT industry’s procurement expenditure on a global front is expected to register significant growth over the next six months.
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The report states that improvement of operational efficiency, development of new products, and expansion across current markets are the top three priorities as said by most of the respondents interviewed for developing the report. Developed markets such as the U.S., Germany, and the U.K. will continue to be important markets for the IT industry over the said period. Research and development and innovation in product varieties will exhibit a significant rise in the overall capital expenditure of IT companies in the next six months.
IT executives have also expected to see a rise in expenditure for the procurement of technology and purchase of licenses over this period. Of all the respondents, 52% have indicated that e-procurement will take a big role across various stages of the procurement process in their companies.
With the vast data provided in the report, it allows a clear understanding about aspects such as expected changes in capital expenditure, business priorities, variation in costs on the supplier end, mergers and acquisitions in the IT industry, and the perspective of companies towards e-procurement. The report also provides data categorized on the basis of regions and company type.
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