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TECH BYTES-Monthly Tech Industry Bulletin August 2022

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

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Key Findings

01

Highlights from NASSCOM Reports Released in July 2022

  • Healthcare in India – Transforming through innovation
  • Tech Start-ups Quarterly investment Factbook (Q2 CY22)
  • Future of Cloud and Its Economic Impact: Opportunity for India
  • Digital Enterprise Maturity 3.0- Boosting Business Resilience Through Technology
  • The Future Is Electric- Discussion Paper on Electric vehicles in India
02

Key Insights

  • State of Technology Adoption- 67% enterprises spend 4%+ of revenue on IT; ~33% earmark >30% of IT budgets for digital spend
  • NASSCOM-Avasant Digital Enterprise Maturity model-Three dimensions, namely Digital Strategy and Investments, Technology Adoption, and Digital Talent and Five Maturity Categories: Beginner, Follower, Striver, Accelerator, and Transformer form the Digital Enterprise Maturity Index
  • Key attributes of Transformers: Transformers are the most digitally mature organizations, 60%+ are large; midsized ones evolving fast, particularly in APAC, 38% spent >4% of FY2022 revenue on digital
03

  • Hybrid Models of Work- Panellists: Randstand India, Zing HR, Adrenalin e Systems
  • Future of Cloud and its Economic Impact: Opportunity for India- Panellists: Mahindra Group, Patanjali Ayurved Ltd, AWS India, Jio Platforms Ltd
  • Software Testing - Trends & Opportunities-Panellists: ImpactQA, Cigniti Technologies, GS Lab
04

  • Tech Trends: Q1FY23 results starts on a positive note, MNCs expanding to tier 2 cities
  • ER&D Trends: Indian ER&D companies opening new innovation centers in global locations, assisting in digital transformation, jointly manufacturing systems and solutions with their partners to solve industry problems
  • Tech Start-ups: two new unicorns added, incubator set up to help startups in tier-2/3 cities, Bihar Start-up policy

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