Cloud Adoption Drives India's Software Market
Software market in India grew 10% to $4.76 billion in 2013, driven by strong adoption of cloud or subscription-based services, according to Gartner. The research firm also revealed that among the BRICS (Brazil, Russia, India, China and South Africa) nations, the Indian software market experienced the highest growth rate.
India’s software market stood at $4.334 billion in 2012. “The Indian software industry is in the middle of a multi-year cyclical transition as organisations are focusing investments on technologies to support existing system structure,” said Bhavish Sood, Research Director, Gartner. He added that organizations are doing this in order to maintain competitiveness, while still taking advantage of cloud or subscription-based pricing where it makes sense to grow and advance the business.
Microsoft retained the lead with 20% market share and $957.3 million in revenues. It saw its revenues growing 10.6% from $865.9 million in 2012. There was a shift in vendor rankings from 2013 with Oracle ranking second in terms of total software revenue with approximately $505 million last year and capturing 7.3% of the market. “Trends around business intelligence and analytics, with increasing customer investments in database management systems, helped drive Oracle’s top-line growth,” Sood said. IBM ranked third ($446.6 million), followed by SAP ($324.3 million), VMware ($94.4 million), CA Technologies ($52.7 million), HP ($48.0 million) and Adobe ($42.5 million).
Among the BRICS nations, the Indian software market experienced the highest growth rate. Brazil grew at 7.8%, while China registered a growth rate of 7%. Russia grew at 8.9%and South Africa at 6.3%.
“India is growing faster than other emerging countries, which can be attributed to an export-oriented focus over the last decade. However, recent advances in IT communications infrastructure in the country has opened up new avenues for local consumption of IT software and associated services,” Sood said.
Despite an economic slowdown, Indian enterprises are still judiciously investing in technology that can be tied to the business objectives and impact their bottom line.
“Indian enterprises are generally more price-sensitive compared with enterprises in mature markets, but now they are spending on technology that offers a significant upside in terms of agility or productivity gains with diligent planning,” Sood concluded.
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