You are here: Home » Current Affairs » News » National
Business Standard

India's software market grew at 12.4% in January-June 2019: IDC report

India's overall software market was estimated to grow at a compound annual growth rate (CAGR) of 14.1 per cent between 2018 and 2023, said the Worldwide Semi-annual Software Tracker report

IANS  |  New Delhi 

How CleverTap's in-app solution is bringing product, marketing teams closer
India accounted for 12.4 per cent share of the Asia Pacific, excluding Japanese region, software market.

The Indian market grew 12.4 per cent year-on-year in January-June of 2019, according to an International Data Corporation (IDC) report on Thursday.

India's overall market was estimated to grow at a compound annual growth rate (CAGR) of 14.1 per cent between 2018 and 2023, said the Worldwide Semi-annual Tracker report.

India accounted for 12.4 per cent share of the Asia Pacific, excluding Japanese region, software market. India is expected to achieve a higher growth rate vis-a-vis some other major economies in the region, according to the estimate.

"In the next 18-24 months, Indian organisations would be working on improving employee's productivity and profitability, delivering omni-channel experience to the customers, innovating and driving the disruptive digital ecosystem, and emphasising on the creation of data-driven and customer-centric organisation," said Mohsin Baig, enterprise software market analyst at IDC India.

IDC classifies the software market into three primary categories -- applications, application development and deployment (AD&D), and systems infrastructure (SI) software.

Applications contributed 61.3 per cent to the overall market revenues, followed by AD&D and SI software with shares of 22.4 per cent and 16.3 per cent, respectively, in the first half of 2019, said the report.

--IANS

gb/pcj

First Published: Thu, December 05 2019. 22:18 IST
RECOMMENDED FOR YOU