TECH BYTES – Monthly Tech Industry Bulletin – November 2020

Many It-BPM firms reported a gradual recovery with an increase in revenue. Supply-side constraints eased after economies lifted lockdown restrictions, demand in large verticals like telecom and BFSI strengthened as enterprises started accelerating their digital transformation journeys

• Hiring momentum picked up pace during the second quarter of FY2021 with the top 5 Indian IT companies adding nearly 18,000 employees compared to negative hiring in the last quarter. With extended WFH models becoming a norm at many large enterprises, hiring is also gradually shifting to non-metro regions

• In its IoT Implementation Trends Survey – October 2020, Gartner reports that 47% of the surveyed companies planned to increase spend on IoT despite COVID-19 led CapEx reduction. COVID-19 has led to a further boost to IoT adoption for remote, human-less, preventive sensing, alerts, and action

• Cloud remains the foundation of digital transformation. The improved deal activity during the quarter clearly shows enterprises scaling up cloud capabilities. Recognizing that cloud will be the next cloud lever going forward, service providers have started re-strategizing their business models with a laser sharp focus on cloud business