Software

Software Market in India to Hit $6.1 Billion This Year According to IDC

Image result for Software Market in India to Hit $6.1 Billion This Year According to IDCThe 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, a report by the International Data Corporation (IDC) said on Thursday.

According to the IDC’s “Asia Pacific Semiannual Software Tracker” (excluding Japan), H2 2018 (July-Dec 2018), India maintained its leadership position as one of the top three contributors in the APeJ region’s software market, accounting for 12 percent of the overall market.

“Indian organisations are increasingly looking at harnessing big data and business analytics to increase competitive advantage. There is a renewed thrust on modernising and evolving enterprise applications and accelerating Cloud-related initiatives.

“Over the course of the next 24 months, Indian organisations would attempt at maximising their investments in analytics, Cloud, and Artificial Intelligence through appropriate monetisation mechanisms. This is slated to act as a catalyst in driving digital transformation,” Ranganath Sadasiva, Director, Enterprise Solutions, IDC India, said in a statement.

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 percent share, followed by AD&D and SI software with shares of 22.8 percent and 17.5 percent, respectively, in H2 2018.

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