India’s enterprise ICT revenue to grow at 15.5% CAGR through 2030
India’s enterprise information and communications technology (ICT) market is set to expand at a compound annual growth rate (CAGR) of 15.5% through 2030, as surging artificial intelligence (AI) adoption, cloud transformation, data center investment and digital infrastructure reshape technology spending. The scale and pace of growth signal a decisive shift toward AI-ready, cloud-enabled enterprise ecosystems, with BFSI and other major sectors driving demand across India, according to GlobalData, a leading intelligence and productivity platform.
GlobalData’s latest report, India Enterprise ICT Country Intelligence Report, reveals that a positive enterprise IT investment sentiment, acceleration in digital transformation efforts, data center investments, sustained digital public infrastructure spending, and a national push for AI will drive one of the fastest expansions of any major enterprise ICT markets in Asia-Pacific.
This is in line with the findings from GlobalData’s 2026 ICT customer insight survey*, which reveals that a majority 92.3% of respondents (who are the key enterprise ICT decision makers) confirmed that there has been an increase in their enterprise ICT budgets in 2026 as compared to previous year.
Bhushan Firke, Technology Analyst at GlobalData, comments: “India’s ICT growth is being supported by a combination of targeted public investment and accelerating private-sector demand. Government funding, including $1.2 billion approved through 2029 to strengthen the AI ecosystem and expand affordable access to high-end compute, is improving AI and cloud readiness. At the same time, India’s expanding global capability center landscape is driving consumption of cloud, cybersecurity, data center capacity, networking, and enterprise software as more than 1,700 such centers deliver mission-critical technology, engineering and R&D services.
Cloud leads and AI accelerates
Cloud computing will remain the largest IT solution segment, accounting for 17.9% of cumulative ICT revenue between 2025 and 2030 and growing at a CAGR of 21.1%, reflecting strong role of cloud-led transformation in IT services growth.”
Firke adds: “India’s cloud shift is accelerating as enterprises move from traditional on‑premise IT to scalable public‑cloud platforms that are secure by design, governed for compliance and AI accountability, optimized for cost and performance, and ready for AI-led scale and automation—reshaping the country’s ICT landscape. Public-sector adoption is also rising alongside private sector use, driven by national governance and compliance frameworks that normalize cloud as secure, scalable, and strategically essential infrastructure. India’s ‘Cloud-First’ policies and guidelines set for cloud services providers are also driving this expansion, while cloud platforms like MeghRaj 2.0 deliver hybrid and government community cloud services.”
AI will be the fastest growing IT solution segment, recording a CAGR of 54.0% as it scales from pilots to production, and compounds demand. Every AI implementation that reaches production draws significant cloud capacity, which is why the two fastest-expanding solution areas reinforce each other.
BFSI anchors vertical demand
Banking, financial services, and insurance (BFSI) will be the largest vertical segment, contributing 14.5% of cumulative ICT revenue over 2025–2030 and growing at a CAGR of 20.6%. Agriculture and forestry, manufacturing and information technology will also drive significant demand for ICT in coming years.
BFSI spending reflects the scale of India’s digital payments and banking infrastructure, tightening regulatory expectations on cybersecurity and data protection, and heavy investment in core system modernization, real-time risk analytics, and digital onboarding. Insurance and capital markets companies are adding to bank-led demand as distribution and claims processing move online.
BFSI sets the technology benchmark for the wider Indian market. While banks and insurers commit on cloud, AI, and security, agriculture & forestry sector is scaling precision farming through sensors, drones, GIS, and farmer-facing apps supported by Indian Council of Agriculture Research-led data platforms, and manufacturing sector is advancing Industry 4.0 with automation, real-time monitoring, and predictive maintenance.
Firke concludes: “India’s MSMEs are accelerating ICT adoption as digitization becomes central to competitiveness, supported by improving digital infrastructure, targeted subsidies, and wider access to affordable cloud and commerce platforms. Schemes such as the Digital MSME Scheme are lowering technology entry barriers, promoting cloud adoption, and enabling integration with digital payments and e-commerce.”
