Software Market in India to Grow Rapidly

India has been dominating the Software market in recent years. It is the fastest growing and most dynamic within the Asia Pacific region including Japan.

Software Market in India to Grow Rapidly
Software Market in India to Grow Rapidly

It is estimated a growth of 11.9% on a year on year growth in percentage. This means it could touch $5.1 billion by the end of 2018 according to market research firm IDC.

“Digital transformation initiatives and the drive for application modernisation have led the growth story for the software market over the last 12 months, and are expected to attract sustained investments by Indian enterprises in 2018 as well,” IDC further added.

Industries of all segments have jumped on the digital bandwagon, and hence the need for software market has increased tremendously. This has further added to the security software’s needed to battle threats such as WannaCry virus which affects businesses once gone digitally.

IDC India Associate Research Manager (Software and IT Services) Sandeep Kumar said, “An increase in investments on digital software companies is sustained. This is witnessed in categories such as end point security, identity and access management and messaging security.”

Looking at past records courtesy of the Statistics Portal, revenue of the enterprise software market in India between 2013 and 2018 reached $5.2 billion in 2016. Among leaders of the software market currently are Microsoft, Oracle and IBM.

In the recent times intense market competition is seen in adoption of Continuous Integration (CI), Continuous Delivery/Deployment (CD) and DevOps practices. These are parts of application development lifecycles. Almost a quarter of Indian organisations have implemented CI/CD aand DevOps practices with a potential further increase of 44%.

The global public sector software market is to grow at 13.28% during the period of 2017 to 2021. There is wide increase in internet penetration in emerging countries and lso the adopton of software solutions is expected to grow. Smartphones, tablets and laptops have increasing in demand and also the growth of cloud based services. Mobility is the future, and is even touching government initiatives around the world to battle the lack of infrastructure. For example banks not existent in rural areas can be accessed using m commerce and mobile banking applications.