India software market is expected to grow at 11.9 percent to $5.1 billion in of 2018, according to IDC.
Digital transformation initiatives and the drive for application modernization have led the growth in Indian software market over the last 12 months, and are expected to attract sustained investments by Indian enterprises in 2018 as well.
Enterprises across all industry verticals and segments have started making investments in digital areas, resulting in spend on software such as Collaborative Applications, Enterprise Resource Management (ERM) and Customer Relationship Management (CRM).
Spending on applications contributes to 57.3 percent of India’s software market. The contribution of Development and Deployment (AD&D) was 24 percent. System Infrastructure (SI) Software has 18.7 percent of the software spending in H1 2017.
Intense market competition and the rise of Digital Native companies have influenced Indian firms to adopt Continuous Integration (CI), Continuous Delivery/Deployment (CD) and DevOps practices increasingly in their application development lifecycle.
According to the IDC Asia Pacific Software Survey, 2017, already a quarter of Indian organizations have implemented CI/CD and DevOps practices, with another 44 percent planning to do so in the next 12-18 months.
Security software is the second fastest growing software market in the country.
“Security software investments are being contemplated with an increasing level of intensity by a large section of Indian enterprises. This was indicated by sustained investments in several security software categories such as End Point Security, Identity & Access Management, and Messaging Security,” said Sandeep Kumar Sharma, associate research manager (Software & IT Services) at IDC India.
IDC estimates that the IT software market will advance at a CAGR of 13.8 percent for the period 2016-2021 to reach $7.7 billion in 2021.
