Popular research firm Gartner recently revealed that the enterprise software market in India is expected to touch $3.92 billion in 2013. The firm claimed that despite the present challenging economic scenario this particular market would be able to nark a steady 13.9 percent growth its revenue of $3.45 billion in the previous year i.e. 2012.
Mr. Asheesh Raina, who is the Principal Research Analyst at Gartner, released an official statement in this matter. He explained a few things about the base of the projections, and this market would react in the upcoming months. Here is a small excerpt of his statement.
"Growing maturity of Indian users is an important driver for overall growth. These new technologies, and demand for agility, brings in additional urgency and demand for infotech investments.”
Raina admitted that the incorporation of rising technologies like cloud, mobility, and business process management have become a mandatory option for all the leading enterprises. In fact companies are nowadays looking for infotech cost savings, and to do that in a proper manner usage of software is essential for sure. He also added that according to him compounding the increasing demand is the current trend for greater customer services, which is the backbone of any established enterprise.
You should know that India is very much likely to be the 4th largest enterprise software market in the Asia-Pacific region in 2013. As per early estimation India is expected to contribute a share of 11.6 percent of the total revenue of $33.73 billion for this particular region in the current year. However, the total revenue of the worldwide software market is $296 billion. In the world scenario of software market India’s share is 1.32 percent.
Another focusing point of the study is that India is forecasted to touch $6.7 billion in revenue by the end of 2017, and it will contribute around 13.11 percent of the software market of the Asia-Pacific region. The global software market is also likely to reach at least $383 by 2017. You can easily understand that how well this market would perform in the years to come.
However, Gartner mentioned that India’s software market is still under-performed and its size is smaller than many other countries. Nowadays this market is evolving in the country and the growth rate is quite satisfactory, the research firm added.
India has the presence of many global software and hardware vendors and it is currently backed up by an ultra strong ecosystem of system integrators, business partners, and service providers, Gartner concluded.
What are your expectations from this market in India? How much are you dependent on software in your daily life? Let us know by sharing it with us via commenting.
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