Software market of India is anticipated to develop at 11.9% as compared to the last year to cross $5.1 Billion by the end next year, claimed a research company said this week. The software market of India carries on to be one of the dynamic and quickest growing markets within the Asia Pacific excluding Japan (APeJ) area, the firm claimed in a report.
“Initiatives of digital transformation and the push for application modernization have headed the development story for the software market for the past 1 year, and are anticipated to draw sustained spending by enterprises of India in 2018 too,” it claimed. As per IDC, applications added up to the majority of the investment with a 57.3% share in the H1 of this year. This was followed by SI (System Infrastructure) and Application Development and Deployment software with shares of 18.7% and 24%, respectively, in the above-mentioned time frame.
Sandeep Kumar Sharma, the Associate Research Manager for IT and Software Services, claimed that organizations all over the industry segments and verticals have shifted to the digital bandwagon, leading to investment on software such as CRM (customer relationship management) to enhance customer engagement and optimize their business processes. The report claimed that there was a rising push on security software, the second quickest developing software market in the nation, in the H1 of this year.
This is due to developing threat landscape (particularly with assaults such as Petya and WannaCry) and an increase in consciousness of the importance of security to avoid business risk. “Security software spending is being pondered with a rising level of concentration by a huge part of enterprises in India,” Sharma claimed. This is represented by continued investments in various categories of security software such as access and identity management, end-point security, and messaging security, he claimed.