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96% Indian IT Leaders Looking To Expand Into New Markets In 12 Months: Survey
According to this survey, a majority (67 per cent) of those planning an expansion said they are most likely to support it by deploying virtually in the short-term and then building permanent physical infrastructure when needed
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New findings from an annual survey of technology decision-makers, by Equinix, Inc., suggest that 96 per cent of IT leaders in India indicated their organisation is planning to expand into new markets in the next 12 months.
According to this survey, a majority (67 per cent) of those planning an expansion said they are most likely to support it by deploying virtually in the short-term and then building permanent physical infrastructure when needed.
The pandemic also continues to have a significant impact on Indian businesses’ digital strategies with 63 per cent of respondents citing that their IT strategy has become more aggressive and ambitious because of the pandemic.
The survey says that 65 per cent of organisations confirmed that their IT budgets have increased as a direct outcome of its legacy - an insight into the now broadly acknowledged necessity for robust digital infrastructure to pivot to evolving business needs in an instant. Furthermore, a majority of respondents (63 per cent) believed the technology changes and investments implemented during the pandemic are here to stay.
More than half of Indian businesses (57 per cent) surveyed for the Equinix 2022 Global Tech Trends Survey are observing a significant positive business impact from having a strong 5G network to take advantage of new technologies such as Artificial Intelligence (AI) and internet of things (IoT). At the same time, nearly half of them (43 per cent) realized the need to rearchitect their IT infrastructure to ensure it supports 5G capabilities. With respect to Indian organizations’ three-year technology strategy, 5G network infrastructure is perceived as the most important (44 per cent), followed by IoT applications (34 per cent) and edge computing (32 per cent).
Meanwhile, 65 per cent of respondents in India said they expect increased spending on carrier-neutral colocation solutions, while 71 per cent said they intend to increase investment in interconnection services to increase speed of connectivity and reduce latency (53 per cent), increase flexibility of connectivity (51 per cent) and improve network optimization (50 per cent).
In addition, the survey also revealed:
- Evolution of Web 3: A majority of Indian IT leaders (52 per cent) expect Web 3 to replace Web 2 within the next 1-5 years. 79 per cent of respondents indicate that their business has a Web 3 strategy in place already.
- Cloud migration continues: 40 per cent of IT leaders in India deploy public cloud, while 93 per cent of them reported working with two or more cloud providers. 86 per cent of Indian IT leaders said they plan to move more business functions to the cloud. Of those respondents, 79 per cent of them plan to move their security functions to the cloud, and 60 per cent intend to move databases to the cloud.
- Focusing on hiring talent from small towns: The technology landscape in India is experiencing a war for talent. 95 per cent of Indian IT leaders said there are opportunities to hire from smaller towns in India to tap into fresh talent pools.
- Focusing on sustainability: While innovating, digital leaders are keeping a close eye on the sustainability of their IT infrastructure. In India, 85 per cent said they have commitments made to science-based targets, while 84 per cent indicated that their customers want to know they are taking steps to reduce carbon footprint of their IT infrastructure.
A number of potentially limiting factors were also identified by Indian IT decision makers when it came to business success, with cyberattacks highlighted as a particular area of concern (78 per cent). In addition, 76 per cent faced challenges in working with more complex digital supply chains and 76 per cent specified the global supply chain issues and shortages as key threats to their business. These continued supply chain issues appear to be driving a need for more virtualization, with growth aspirations underpinned by significant planned investment in digital infrastructure.