Quarterly Industry Review – March 2024

Analysis of the Technology industry performance during the quarter ending December 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.

DOWNLOAD PDF

Key Findings

Global Economy and Technology Spending

Global GDP is estimated to increase by 3.1% in 2023 (0.1% higher than October estimates) and 3.1% projected in 2024 (0.2% higher than October estimates).
Worldwide tech spending grew slower in CY2023, led downward by degrowth in hardware and devices.

Indian Technology Industry Performance

Revenues grew 0.5% q-o-q, and 1.4% y-o-y in reported currency.
EMEA (+1.4%) and India (+10.6%) sustained growth, while North America (-0.3%) witnessed a q-o-q decline. Revenues grew for Energy & Utilities, Manufacturing, Healthcare and Telecom, while BFSI, Retail, Travel & Hospitality declined q-o-q.
Employee base declined by 0.3% q-o-q in Q3FY24 even as companies continued their focus on improving current utilization levels.
Segments:
- Pure-play BPM revenues grew at +0.7% q-o-q, with growth in margins
- Pure-play ER&D revenues grew +1.7% q-o-q and net margins remained under pressure.

Global Technology Companies Trends

Revenues for the select set of global companies increased by 6% q-o-q and 2.5% y-o-y.
The employee base stabilized in Q3FY24.

Start-up Trends

Revenues grew by 12.3% q-o-q and 11.1% y-o-y.
New Age Listed firms continue to lower losses during the quarter.

Get The Report

Download the report and get detailed insights on the sector.

Regular Price : ₹5,000 Buy Now

Member Price : ₹0 Member Login

Nasscom Members- Login to download the report

Related Reports

Quarterly Industry Review – September 2023

Analysis of the Technology industry performance during the quarter ending June 2023. This analysis is based on the quarterly financial results declared by the top listed Technology…

11, September 2023

Free for Members

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…

31, May 2023

Free for Members

Quarterly Industry Review – March 2023

Analysis of the Technology industry performance during the quarter ending December 2022. This analysis is based on the quarterly financial results declared by the top listed Technology…

22, March 2023

Free for Members