Rajan Sethuraman, CEO of LatentView Analytics, predicts the technology sector will grow six to eight percent [1] during the 2024 calendar year.

The forecast highlights how generative AI and strategic partnerships are shifting the revenue models of data analytics firms. As companies integrate these tools, the demand for specialized implementation services is increasing across global markets.

Sethuraman said that AI-related projects already contribute 28% [2] of the company's revenue. He expects this share to increase further as more clients adopt automation and intelligence tools. This growth is supported by a partnership with Databricks, which has helped expand the firm's capabilities in data management and AI deployment [2].

The financial services sector is showing particularly strong momentum. Sethuraman said the financial services orderbook could grow around 40% [2] this year. This surge reflects a broader trend of banks and insurance companies upgrading their legacy data systems to compete with fintech disruptors.

Looking toward the long term, the company has set an ambitious target for its fiscal year 2027. Sethuraman said the firm expects FY27 revenue growth of 18-20% [2]. This projection relies on the continued scaling of AI projects, and the expansion of its client base in high-growth verticals.

Sethuraman said that the combination of sector-specific growth and technological shifts is creating a more resilient revenue stream. The focus on financial services and AI provides a hedge against volatility in other technology sub-sectors [1], [2].

“Expect 6-8% growth in Technology sector this year”

The projections from LatentView Analytics indicate a transition where AI is moving from a speculative experimental phase to a primary revenue driver for analytics firms. The significant growth in the financial services orderbook suggests that highly regulated industries are now accelerating their digital transformations, likely due to the competitive pressure of AI-driven efficiency.