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06 Jun 2019

India Software Market Poised to Grow at 13.7 Percent to Reach US$ 6.1 Billion by 2019, IDC India Reports

NEW DELHI, June 6th, 2019 – India software market is expected to grow with a year-on-year (YoY) growth rate of 13.7 percent and touch US$ 6.1 billion by the end of 2019, as per IDC's latest Asia Pacific (excluding Japan) Semia n nual Software Tracker, 2018 H2 (July – Dec 2018). India maintained its leadership position as one of the top 3 contributors in the APeJ region’s software market, accounting 12.0 percent of the overall market.

International Data Corporation (IDC) 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.

High Growth Software Sub Segments:

For the forecast period, CY (Calendar Year) 2018-2023, IDC predicts Enterprise Resource Management (ERM), Collaborative Applications, and Customer Relationship Management (CRM) to be the top the opportunity areas for the vendor community. These markets are expected to witness higher growth rates vis-à-vis other secondary software markets and contribute a major chunk to the overall software market during the forecast period.

High Growth Secondary Software Markets in India, Compound Annual Growth Rate (CAGR) 2018-2023 (%)

Secondary Software Markets

YoY (2019 vs 2018)

CAGR (2018-2023)

Enterprise Resource Management Applications

18.7%

18.7%

Collaborative Applications

26.6%

19.0%

Customer Relationship Management Applications

22.0%

20.7%

Source: IDC Asia/Pacific Semiannual Software Tracker, 2018 H2, June 2019 Release

“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.

For more information on the India IT Software Market, please contact Ranganath Sadasiva, Director, Enterprise Solutions at rsadasiva@idc.com, or Mohsin Baig, Market Analyst, Software at mbaig@idc.com. For press enquiries, please contact Shivani Anand at sanand@idc.com.

About IDC Trackers

IDC Tracker  products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.

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For more information, contact:

Shivani Anand
sanand@idc.com
9910466896