BENGALURU: Globally, for the past 12 months, IT budgets have been increasing, and in India too budgets are accelerating with India respondents reporting 92%, the highest overall budget increase and highest percentage reporting at 29%.
JumpCloud in the findings from Q1 2024 small to medium-sized enterprise (SME) IT Trends report reveals that IT admins are more optimistic about IT spending than six months ago as 80% expect IT budgets to increase in 2024 compared to 63.5% in Q2 2023.
About 92% of India respondents expect budgets to increase either slightly or significantly, which is above the global average of 80%. Also, 61% of India respondents cite security as their biggest challenge and this is higher than the global average of 41%. Greg Keller, CTO JumpCloud said, “Companies in India are fast-moving and agile.
They are seeking platform-based device and identity management solutions that scale to match their growth ambitions while also helping to meet emerging compliance and security challenges.” The report also adds that India SMEs have to navigate turbulent economic realities with the highest number of layoffs about 78% compared to the global average of 57%.
Interestingly, only 9% of India respondents had experienced no layoffs and were anticipating no future layoffs. Organisations across the world are increasing their Artificial Intelligence (AI) adoption.
In India, planned AI adoption has increased to 96% for India respondents, with 31% planning to adopt AI in the next six months and 38% in the next 7-12 months.