Covid-19 impact: India's software market to see 3.8% growth in 2020

Segments such as robotic process automation and model-driven application platform are expected to witness growth in the spending

India's overall software market is forecast to grow at 3.8 per cent year-on-year in 2020 as enterprises relook at their IT spends amid the Covid-19 pandemic, research firm IDC said on Friday.

The software market in the country is expected to grow at compound annual growth rate (CAGR) of 7.6 per cent during 2019-2024, IDC said in a statement.

"There is a significant decline in the overall software market because of the Covid-19 pandemic which is forcing enterprises to relook at their IT spends, it noted.

Enterprises at this point are focusing on operational resiliency, return on investment (RoI), business