Company Of The Year - 2024
The IT industry of India continued its momentum to consolidate its leadership position in technological innovation and services in 2024. The growth was fuelled by AI, GenAI, automation technologies, potent government policies and investments in research and development.
The sector proved to be resilient in the face of global economic challenges. The technologies like AI and GenAI were used by the companies to redefine operations, increase efficiency and come up with creative solutions. Applied to all industries, healthcare, manufacturing, education and retail, these advancements helped businesses move towards a data driven and technology led model. AI was all the rage, it was pervasive, and it made processes much easier to manage, as well as how companies thought about problem solving and decision making.
Staying on top as a technology outsourcing and innovation leader was enabled by Global Capability Centres (GCCs). GCCs have evolved from support hubs to centres of excellence, and over the years GCCs have led innovation at a large global scale. As their growth showed, India’s strategic advantage was combining cost efficiency with a highly skilled workforce. At the same time, Tier-II and Tier-III cities became potential hubs for tech development, as a means to decentralize the industry and bring tech jobs to more places.
"2024 was a milestone year for India’s IT industry. The sector used innovation, adaptability and government support to not only weather global challenges, but to create favourable conditions for the future"
A large part of this growth trajectory was due to government initiatives. A well-articulated framework for development was shaped by policies that helped promote 5G adoption, research into quantum computing and development of AI ethics. Together with public private collaborations, these initiatives created an environment for technological experimentation and innovation. Additionally, upskilling of professionals was a driver towards addressing the fast changing technological environment. Numerous people received AI and other emerging technology training to keep the workforce globally competitive.
A lack of clarity about global investment trends was not a hindrance to Indian IT firms who moved to automate, turn to cloud computing and integrated service solutions. Engineering Research and Development (ER&D) services became the pillar of the sector, leading to large exports and making India a leader in innovation. In addition, spatial computing and the industrial metaverse was a forward thinking approach to the continual development of technology.
Rising adoption of digital among local businesses and government projects also played a key role in this journey of India's domestic IT sector. It reinforced the industry's capabilities in terms of digital infrastructure, cybersecurity and data analytics, and laid the groundwork for continued long term expansion.
Overall, 2024 was a milestone year for India’s IT industry. The sector used innovation, adaptability and government support to not only weather global challenges, but to create favourable conditions for the future. The industry reaffirmed its position as a global technology powerhouse focused on AI, decentralized growth, and workforce upskilling, while laying the groundwork for ground-breaking change.
CIOTechOutlook in this issue presents ‘Company of the Year - 2024’, featuring companies that have leveraged their extensive industry expertise and experience in providing excellent solutions and services in their respective fields. These companies have been selected after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding and competitive IT industry and their ability to sustain themselves and emerge as top contestants through their reliable product and services.
We present to you CIOTechOutlook Company Of The Year - 2024.
Company Of The Year - 2024
Recommend a Company
Our subscribers play a decisive role in finalization of our annual list of Company Of The Year - 2024 by recommending those which have served them with excellence and are praiseworthy. If you feel there is a company that deserves to be on our annual list, do write to us about them mentioning their value proposition.
| Company Name | Company Description |
|---|---|
| 1Vendor Platform | “We position ourselves as a customer-centric company, we work with a vision to provide a seamless e-Commerce experience for industries, enhancing their productivity and cost effectiveness through... |
| Company Name | Company Description |
|---|---|
| Bricks & Pixel | As one of the very few companies focusing solely on real estate, we are not only striving to solve their key pain points, but also have built-up a huge library of assets that enables us to provide... |
| Conneqt Digital | The customer-centric approach has led to significant successes, such as helping a leading insurance provider in Saudi Arabia open new revenue channels, resulting in $600 million in sales over three... |
| Interlace | “We leverage AI based tools to enhance threat detection, automated incident response and security automation. With AI-driven technologies, we offer faster, more accurate and proactive security... |
| JAAN Innovations | “Our API-driven integrations seamlessly interface with third-party systems, ensuring flexibility for diverse infrastructures - whether it’s malls, airports, corporate offices, or public parking... |
| Jukshio | Unlike many in the industry who rely on determining if two pieces of data are similar, it takes the opposite approach by asking whether the two pieces are dissimilar. |
| Navtech | Over the next five years, we aim to establish large-scale production facilities, further cementing our role as a leading provider of made-in-India optical wireless systems on the global stage |
| Sharp Minds Cloud Tech | Our commitment to fairness involves rigorous testing and auditing of our AI models to minimize bias and ensure accurate outcomes, training models on diverse datasets and testing them with anomalies... |