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According to a new report by International Data Corporation (IDC), India's software market is expected to register a year-on-year (YoY) growth of 14.1 percent by the end of 2018.
IDC said today, India stands among the top 3 contributors in the APeJ region's software market share; accounting 12.6 percent of the overall market. Also, the country is estimated to achieve a CAGR of 14.4 percent between 2017 and 2022- this is the highest growth rate anticipated amongst the APeJ countries for the above-mentioned period.
"Sustained growth in digital technology investments by Indian organizations to accomplish priorities such as modernization of legacy infrastructure and achieving operational excellence are driving the growth story of India software market," said Ranganath Sadasiva, Director Enterprise Solutions, IDC India.
The research firm pointed out that the Software market into three primary categories: Applications, Application Development and Deployment (AD&D), and System Infrastructure (SI) Software. Applications contributed the bulk of the spending with a 58.8 percent share, followed by AD&D and SI software with shares of 23.5 percent and 17.7 percent, respectively, in 1H 2018.
The high growth markets clearly indicate the emphasis India organizations are placing toward the implementation of enterprise applications for business processes efficiency. There is tremendous business potential for collaborative, ERM, content management, and CRM applications in the next 3-5 years", said Sandeep Kumar Sharma, Associate Research Manager, Software and Services, IDC India.
"DevOps is amongst the top infrastructure related priorities for the majority of larger organizations in India currently. This is being led by their need for agility, nimbleness to market, and better user experience.", said Mohsin Baig, Market Analyst, Enterprise Software, IDC India.
Furthermore, IDC predicts Collaborative Applications, Enterprise Resource Management (ERM) Applications, and Content Workflow & Management Applications and Customer Relationship Management (CRM) to be the top opportunity areas for the vendor community.