Category: In The News

There Will Be a Big Fight for Talent as Indian IT Looks Ahead to Its “Metaverse Moment.” in 2022 | In the News

There will be a big fight for talent as Indian IT looks ahead to its “metaverse moment.” in 2022. However, the shortage of engineers will open up opportunities and demand for service businesses, startups, and even gig workers.

Yugal Joshi, a Partner at Everest Group, says virtual gaming is a $200 billion business, but tech service providers don’t get a lot of that money. There are a lot of tech-services companies in industries like BFSI, manufacturing, and retail that use them.

Read more in Inventiva

30 Minutes or Free? The Coming of Age of Q-commerce | In the News

Nowadays, most people prefer q-commerce, or quick commerce, due to constantly evolving consumer lifestyles, growing urbanization, rapid rise of digital services, busier lifestyles, growth in disposable incomes, etc., and industry leaders and new players are sightseeing a new vertical in q-commerce.

Getting groceries within a time limit “is not something that needs an emergency alert,” Yugal Joshi, Partner at Everest Group, said. While some people in metros want to shop from the comfort of their homes, most can plan for next-day delivery at least.

Read more in Silicon India

Is Your Digital Transformation Headed for Trouble? | In the News

According to research by Everest Group, around 68% of enterprises that started digital transformation initiatives have not achieved their expected results. Why? More than half point to resistance to change as a key obstacle.

No matter how experienced a leader you are, delivering fundamental change at scale and at the pace necessary to keep up with the market is difficult to execute.

Read more in Reworked

Top 9 Blockchain Platforms to Consider in 2022 | In the News

Interest in blockchain platforms has been growing significantly as a way to streamline supply chains, improve traceability, simplify trade, and improve financial transactions. A lot of this interest started with the speculative frenzy surrounding Bitcoin, which is based on an older blockchain platform that faces challenges with energy consumption and speed.

Modern blockchain platforms have been developed to help overcome these limitations and provide practical value for other business uses and applications. “We are seeing multiple enterprises adopt blockchain platforms for some of their application needs,” said Suseel Menon, Senior Analyst at Everest Group.

Read more in TechTarget

 

Hiring Spree: Accenture Adds 1.6 Lakh Employees Globally in One Year | In the News

Accenture is on a hiring spree and has recruited 1.62 lakh employees (net) in the last one year globally — the highest reported by any IT services company in a year. Of this, nearly 40% will be in India, which is the company’s largest center, followed by the Philippines and the US, said analysts tracking the industry. Its current global headcount is around 6,99,000, of which over 2,50,000 are in India.

“Accenture has had a phenomenal year and its growth numbers this quarter would scare Indian-based peers. Despite Accenture being almost double the size of the largest Indian heritage peer, it is growing much faster,” said Yugal Joshi, Partner at Everest Group, a global research firm. “This does put immense pressure on Indian heritage peers from a hiring perspective,” he added.

Read more in The Hindu

 

Intelligent Automation in the UK Public Sector | In the News

COVID-19 required government departments to pull off a rapid shift to digital while at the same time managing a public health crisis. Many turned to robotic process automation (RPA) to quickly redesign their business processes and tackle the administrational backlogs that accumulated as workers were confined to their homes.

Anil Vijayan, Partner at Everest Group, says that governments’ hesitation to innovate has slowed IA adoption. “The idea of job losses, whether real or imagined, also prevents an aggressive push towards automation,” he said.

Read more in Tech Monitor

Decentriq Raises $15M to Expand Its Data Clean Rooms Platform | In the News

Data clean rooms, a buzzy term that’s gained currency among the enterprise lately, refers to a secure environment where customer data is anonymized, processed, normalized, and stored.

Recently published Everest Group data found that the confidential computing market could grow to $54 billion by 2026, fueled by enterprise cloud security initiatives and expanding regulations, especially in privacy-sensitive industries such as healthcare and financial services.

Read more in Venture Beat

TCS’ $50-bn Goal below Its Growth Standards | In the News

Tata Consultancy Services (TCS) — the largest information technology (IT) services provider in India and the second-largest globally — recently set an ambitious goal of $50 billion in revenue by 2030.

When asked if the ambition of $50 billion is somewhat conservative in a fast-growing market, Peter Bendor-Samuel, Chief Executive Officer, Everest Group, said: “The industry has entered a megacycle and we expect robust growth for the foreseeable future, with strong secular trends supporting growth.

Read more on Rediff.com

Here’s What Russia Legalizing Piracy Could Mean for Tech Companies | In the News

Ever since Russia invaded Ukraine, more and more countries and companies have denounced the action and worked to sanction or otherwise punish the conflict’s initiator. Said punishments have led to Russian President Vladimir Putin and his administration announcing increasingly drastic measures and threats.

Yugal Joshi, Partner at Everest Group, weighed in as well. “Russia in general is perceived to be a market where software piracy was more widely spread,” he stated, continuing on to say “the materiality of the impact will be low.”

Read more in Windows Central

Ukraine Crisis Puts Global IT Outsourcing on Edge | In the News

While first and foremost a humanitarian crisis, Russia’s military invasion of Ukraine has also become a concern for IT outsourcing customers with interests in the region — and those taking advantage of the global IT services market generally.

The conflict has had a significant impact on Ukraine’s IT outsourcing industry, which exports $6.8 billion IT services annually, approximately 4% of GDP, according to trade group IT Ukraine Association. Ukraine, together with neighboring nations, employs around half of the 1.5 million IT and business services professionals working in nearshore Europe, according to IT services and BPO research firm Everest Group.

Read more in CIO

 

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