Software market in india expected to touch USD 5.1 billion by 2018

Vastavam web: India’s software market is expected to grow at 11.9 per cent year-on-year to touch USD 5.1 billion by the end of 2018, research firm IDC said today.The Indian software market continues to be one of the fastest growing and dynamic markets within the APeJ (Asia Pacific excluding Japan) region, IDC said in a report.According to IDC, applications contributed to the bulk of the spending with a 57.3 per cent share in the first half of 2017.

This was followed by Application Development and Deployment and System Infrastructure (SI) software with shares of 24 per cent and 18.7 per cent, respectively, in the said time period.IDC India Associate Research Manager (Software and IT Services) Sandeep Kumar Sharma said organisations across all industry verticals and segments have jumped on the digital bandwagon, resulting in spend on software like customer relationship management (CRM) to optimise their business processes and enhance customer engagement.This is on account of evolving threat landscape (especially with attacks such as WannaCry and Petya) and a rise in awareness of the criticality of security to allay business risk.”Security software investments are being contemplated with an increasing level of intensity by a large section of Indian enterprises,” Sharma said.