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According to a Cushman & Wakefield assessment, Bengaluru is second to Beijing among the top IT centres in Asia-Pacific, preceded by Chennai, Hyderabad, & Delhi. This city is powered by talent and ongoing demand for premium office property from local and foreign enterprises. According to the report, the country gained over 500,000 IT employees in the previous fiscal year. Globally, 46 leading technology markets were recognised from more than 115 tech cities, with India accounting for six of these 14 cities inside the Asia Pacific area. According to the survey, the IT industry in Bengaluru accounts for an estimated 38%-40% proportion of yearly leasing, greater than the national figure of 35%.
Key Takeaways
- Bengaluru tops 2nd in Asia-Pacific for Tech Hubs
- The Indian IT industry has proven impervious to the pandemic’s first effects, rebounding swiftly and surpassing most other industries
- Within two years, leading Indian cities’ offices and the IT sector had largely rebounded to pre-pandemic proportions
- Aside from Bengaluru, three additional Indian regions – Delhi, Hyderabad, & Mumbai – appeared on the ranking but were rated in three of the lowest four positions – 17, 18, & 20, respectively
Bengaluru A Leading Technology Hub
According to Cushman & Wakefield’s analysis, Bengaluru became the 2nd-best IT cluster within Asia-Pacific, trailing only Beijing in China. For the research, “The Global Interaction of Talent & Real Estate within Tech Cities,” 115 distinct “tech cities” from worldwide were studied. The research included talent, business, and real estate climate to analyse and examine the cities. As per the research, Bengaluru is India’s biggest Class A office sector, contributing 25 – 30 % of yearly pan-India lease business from 2017 – 2021.
As per the report, the IT sector provided a 38-40 percent share of the yearly lease activity in Bengaluru’s office market (2017-2021), greater than the national average of 35%. It praised Bengaluru for diverse businesses, which included public sector enterprises, aerospace, biotechnology firms, healthcare, educational institutions, and research organisations. The research highlighted Bengaluru’s high rating in the Indian government’s 2020 Comfort of Living Index for Cities with Over a Million People, together with noting the city’s richness of amenities for residents.
Workspace at Bengaluru
Cushman & Wakefield found that the two biggest significant tech-centric sectors are the Outer Ring Road & the Peripheral East in Bengaluru in their examination of how technology enterprises are spread around the region.
It was discovered that Bengaluru’s workers might use superb office buildings with cutting-edge facilities in the corridors focused on technology & well-known for its various tech parks. Bengaluru city gained a head beginning in the new century by constructing Whitefield’s, The first worldwide technology park. As per the statement, the city gains from a robust, competitive, flexible workspace market and a depth of talent that keeps drawing a company worldwide.
About The Research
The research considered talent, business, and real estate environments to examine and test the cities. As per the research, Bengaluru is India’s largest ‘category A office sector’ and is among the top contributors to office area leasing, with an average share of 25-30% in annual skillet leasing activity from 2017 to 2021. According to the survey, the IT sector represented an average of 38-40% of the market yearly leasing activity in the Bengaluru office market, which exceeds the national estimate of 35%.
It was discovered that Bengaluru’s employees might use superb office buildings with cutting-edge facilities in these sectors focused on technology & well for their various tech parks. Bengaluru gained a head beginning in the new century by constructing Whitefield’s first global technology park. Based on the statement, Bengaluru has advantages from a full tech world, a competitive office area, and a talented resource that continues to attract companies from all over the world.
About Various Sectors Included in the Study
It praised Bengaluru for being home to various enterprises, including defence firms, public sector industries, aerospace, biotechnology companies, educational institutions, healthcare, and research agencies. The research stated that the city had a great deal to offer people and also touched on life satisfaction, stating that Bengaluru has won the top spot in the Indian government’s 2020 Ease of Life Index within the million population category.
