The Software Market Of India To Reach $6.1 Billion In 2019
Aarav - Jun 17, 2019, 10:45 am IST
The Indian software market is expected to grow at a year-on-year (YoY) rate of 13.7 percent and touch $6.1 billion by the end of 2019.
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By the end of 2019, it is expected that the software market of India will grow at a YoY or year-on-year rate of 13.7% and reach $6.1 billion, according to a report from the International Data Corporation (IDC).
The IDC’s report called “Asia Pacific Semiannual Software Tracker” with Japan not included for H2 2018 (from July to December) suggested that India maintained its leading position in the top three contributors to the software market of the APEJ region. India makes up 12% of the overall market.
In a recent statement, director of IDC India’s Enterprise Solutions, Ranganath Sadasiva said, “Indian organizations are increasingly looking at harnessing big data and business analytics to increase competitive advantage. 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.”
The software market is classified into three main categories by the market research firm, which include Application Development and Deployment (AD&D), Systems Infrastructure (SI) Software, and Applications.
In H2 2018, Applications contributed the most with a 59.7% share, with Application Development and Deployment (AD&D) and AI software followed behind with 22,8% share and 17.5% share respectively.