Indian Software market to touch $6.1 bn in 2019
The Indian software market is expected to grow at a year-on-year (YoY) rate of 13.7 per cent and touch $6.1 billion by the end of 2019 and the Software includes Enterprise resource management, collaborative applications, and customer relationship management (CRM), as per the IDC.
India software market is expected to grow at the rate of 13.7 percent ,reason increase in harnessing big data and business analytics to increase competitive advantage and the renewed thrust on modernising and evolving enterprise applications and accelerating Cloud-related initiatives to touch US$ 6.1 billion by the end of 2019 and India has been maintaining the leadership position as one of the top 3 contributors in the APJ region's software market, accounting 12.0 percent of the overall market.
The market research firm classifies the software market into three primary categories -- Applications, Application Development and Deployment (AD&D), and Systems Infrastructure (SI) Software. Applications contributed the bulk of the spending with a 59.7% share, followed by AD&D and SI software with shares of 22.8 percent and 17.5 percent, respectively, in 2018 H2.
"Indian organizations are increasingly looking at harnessing big data and business analytics to increase competitive advantage. Additionally, there is a renewed thrust on modernizing and evolving enterprise applications and accelerating cloud-related initiatives. Over the course of the next 24 months, Indian organizations would attempt at maximizing their investments in analytics, cloud, and artificial intelligence through appropriate monetization mechanisms. This is slated to act as a catalyst in driving digital transformation across organizations," said Ranganath Sadasiva, Director, Enterprise Solutions, IDC India.
"Opportunities also exist in the application development and deployment software categories in the country. IDC Tracker research predicts a growth of 11% for this segment in CY 2019. This is primarily being led by the demand for Agile/DevOps frameworks, methodologies, and tools to support DX initiatives, and is ably enabled by the presence of a large supply of developers locally," said Mohsin Baig, Market Analyst, Enterprise Software, IDC India.