Quarterly Industry Review-August 2022

Analysis of the Technology industry performance during the quarter ending June 2022. 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 and Global tech companies

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Key Findings

Output contraction across the globe coupled with global inflation and the war in Ukraine continues to fuel the fears of a global slowdown with Global GDP expectations being revised downwards.
Despite fears of economic slowdown, IT investments are accelerating as organizations are recognizing the importance of technology. However, rising inflation is driving a shift from ownership to service which in turn is pushing cloud spending and IT services.

Revenue growth remained positive, increasing 1.8% Q-o-Q, as demand continued to accelerate. Digital revenues maintained an uptrend increasing at 6.7% sequentially.
Growth in revenues across North America continued sequentially. While Europe and India witnessed showed weakness.
All sectors continued to witness growth sequentially as well as y-o-y. Telecom, Media and Entertainment led both in terms of sequential as well as annual growth.

Pure-play BPM revenues grew only +0.6% q-o-q, primarily due to unfavorable currency impact affecting reported revenues.
Pure-play ER&D companies witnessed a positive uptick in revenues with a Q-o-Q growth of 3.5%. This has been driven by various verticals and markets, due to acquisitions in the last quarter and growth of cloud relates services.

Positive quarter for global technology companies, but outlook remains mixed
Global headcount as well as revenues across geographies maintained an uptrend

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