India software market to grow 14.1% to $5.7 bn in 2018: IDC

India software market is expected to achieve 14.1 percent growth to reach $5.7 billion in 2018, according to IDC.
India software market 2018India stands among the top 3 contributors in the APeJ region’s software market share; accounting 12.6 percent of the overall market.

India software market is forecast to achieve a CAGR of 14.4 percent between 2017 and 2022 — this is the highest growth rate anticipated amongst the APeJ countries.

“Sustained growth in digital technology investments by Indian organizations to accomplish priorities such as modernization of legacy infrastructure and achieving operational excellence are driving the growth story of India software market,” said Ranganath Sadasiva, director Enterprise Solutions, IDC India.

Applications with 58.8 percent share, Application Development and Deployment (AD&D) with 23.5 percent, and System Infrastructure (SI) Software 17.7 percent are the main three primary categories of software market in H1 2018.

Collaborative Applications, Enterprise Resource Management (ERM) Applications and Content Workflow & Management Applications and Customer Relationship Management (CRM) will be the top opportunity areas for vendors during 2017-2022, said Sandeep Kumar Sharma, associate research manager, Software and Services, IDC India.