India’s software market to grow 13.7% by 2019: IDC
With 12% of the overall market, India has maintained its leadership position as one of the top three contributors to the APEJ region software market.
India’s software market is set to grow by 13.7 per cent to reach $ 6.1 billion by 2019, according to IDC India. According to IDC’s latest Asia Pacific (excluding Japan) mid-year software tracker, 2018 H2 (July-December 2018), India maintains its leading position as one of the top 3 contributors to the APEJ region software market, accounting for 12.0 percent of the overall market.
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According to IDC’s latest Asia Pacific (excluding Japan) semianual software tracker, 2018 H2, India’s software market is expected to grow at a year-on-year growth rate of 13.7% (YoY) and touch US $ 6.1 billion by the end of 2019 (July-December). 2018). India maintains its leadership position as the top 3 contributors to the APeJ region software market, accounting for 12.0 per cent of the overall market.
The International Data Corporation (IDC) classifies the software market into three primary categories: Applications, Application Development and Deployment (AD&D), and Systems Infrastructure (SI) Software. In 2018 H2, applications accounted for the lion’s share of spending with a 59.7% share, followed by AD&D and SI Software with 22.8% and 17.5% shares, respectively.
High Growth Software sub segment:
For the forecast period, CY (calendar year) 2018-2023, IDC predicts that Enterprise Resource Management (ERM), collaborative applications, and customer relationship management (CRM) will be the top opportunities for the sales community. These markets will see higher growth rates than other secondary software markets and are expected to contribute a large share to the overall software market during the forecast period.
“Indian companies are increasingly focusing on using big data and business analytics to enhance their competitive advantage. In addition, there is renewed emphasis on modernizing and developing enterprise applications and accelerating cloud-related initiatives. In the next 24 months, Indian companies , Trying to maximize their investment in cloud and artificial intelligence. It will act as a catalyst for digital transformation across the organization, “said Ranganath Sadasiva, Director, Enterprise Solutions, IDC India.
The country also has opportunities in the application development and deployment software segment. IDC Tracker Research forecasts 11% growth for this segment in CY 2019. It is primarily driven by demand for the Agile / DevOps framework, methods and tools to support the DX initiative, and Has been enabled by the presence, ”said Mohsin Beg, Market Analyst, Enterprise Software, IDC India.