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Indian M & E Industry Bullish On IT Spending|
- By CXOtoday Staff, Feb 02, 2007 1527 hrs IST
- Tags : IT spending Indian media entertainment
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IT spending by the media and entertainment (M&E) industry in India is expected to grow to US$300 million by 2010, with a compound annual growth rate of 32%. According to Springboard Research, IT vendors who offer industry-specific technology solutions to M&E will outpace the competition.
In its report, "India's Booming Media & Entertainment Industry: IT Market Trends and Opportunities 2006- 2010" Springboard Research data showed an increasing trend among M&E companies to focus on IT solutions that are specific to the media and entertainment industry.
A vast majority of the M&E companies Springboard surveyed said that they have either invested or plan to invest the largest portion of their IT budget on industry-specific solutions. A further 47% said that their largest IT investment was for a technology solution tailored towards the media and entertainment industry.
Drivers for IT spending in the M&E industry include the urgency of Indian M&E firms to reach new markets (named by 27% of M&E respondents) and the focus on solutions that better manage and deliver M&E content (according to 24% of respondents).
Springboard Research is an IT market research company that has a global presence in addition to its research centers in India and Pakistan.
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