TECH BYTES – Monthly Tech Industry Bulletin –February 2021
Blog: NASSCOM Official Blog
THE MONTH THAT WAS
January saw most of the top firms announcing their December-ending quarter results. An analysis of the top company results shows some interesting insights
- During H1CY2021, if investments were efficiency oriented –keeping the lights on, cost optimization, etc., then H2CY2021 saw a return of investments that are growth-oriented.
- Three digital technologies stood out –cloud, collaboration and cybersecurity –as enterprises’ focus was set on enabling remote working for employees as well as for customers.
- A quarterly comparison over calendar years 2019 and 2020 shows a clear trend towards a broad V-shaped recovery.
- Hiring momentum also picked up pace during the quarter with the top 5 Indian IT companies cumulatively adding nearly 34,000 employees.
With such a growth trend, the industry is set to reach pre-pandemic growth rates in FY2022. We will be analyzing the results of the top listed firms in detail which will be available by the end of this month. You can also read our previous quarter analysis here.
Next week we will be launching our Annual Strategic Review 2021—The Technology industry fact book-~200 pages of data, trends and insights. More details are available here.