Technology service companies are seeing strong interest across sectors to invest and capitalise on the opportunities created through faster cloud migration, cybersecurity, blockchain, analytics and Internet of Things-based solutions and managed services, according to HCL Technologies.
“The year 2021 will see massive digital acceleration across all sectors. COVID-19 has proven that technology can be the single greatest factor in enabling businesses to survive and thrive,’’ said the company.
Sectors such as energy, manufacturing and auto may see slower recovery while others such as technology, telecom, life sciences and financial services would continue to record strong growth, it said. Additionally, sectors heavily impacted by the pandemic, such as retail and hospitality are in the process of transforming and redefining their business models and customer engagement for ‘zero-touch’ interactions, by leveraging conversational AI, analytics and numerous digital innovations, as per the company.
In its outlook, the firm said the COVID-19 pandemic had been responsible for a year of uncertainty and fear across the world, yet the tech sector as a whole, and tech services in particular, had been able to manage through the turbulence and will emerge stronger overall.
Global IT companies, including those of Indian origin, are experiencing business recovery and strengthening outlooks as clients around the world seek and shift their investments to more technology and automation to drive their businesses forward, enable remote working and ensure that their data is secure. Also, more clients are shifting their applications to the cloud, generating better business opportunities for Indian technology providers, HCL further said.