IDC: Indian software market to reach US$5.1billion by 2018

The Indian software market is expected to grow with a year-on-year growth rate of 11.9%, reaching US$5.1billion by the end of 2018, according to IDC’s Asia/Pacific Semiannual Software Tracker, 1H 2017.

Digital transformation initiatives and the drive for application modernisation have led the growth story for the software market over the last year and is expected to attract sustained investments by Indian enterprises in 2018.

“Organisations across all industry verticals and segments have jumped on the digital bandwagon, resulting in spend on software such as collaborative applications, enterprise resource management (ERM) and customer relationship management (CRM) to optimise their business processes and enhance customer engagement,” said Sandeep Kumar Sharma, associate research manager at IDC India.

“In fact, collaborative and CRM applications were amongst the top three fastest growing software categories in 2017, primarily led by adoption via a cloud model (consumed as SaaS),” he added.

Written from press release by Leah Alger