Page 5 - Software Services

India's software market revenues to cross $8.2 bn by 2021-end: IDC

The software market in India is estimated to surpass USD 8.2 billion by the end of the calendar year 2021, according to research firm IDC. India software market was pegged at USD 4 billion in the first half of 2021, registering a growth of 15.9 per cent year-over-year (YoY), as per IDC's Worldwide Semiannual Software Tracker 1H21 (January-June) report. India accounted for a share of 18.3 per cent of the overall Asia-Pacific excluding Japan and China (APeJC) region software market during the January-June 2021 period, it added. Microsoft, Oracle, and SAP maintained their leadership position in the India market during the first half of the year. "Indian enterprises are continuing their digital transformation initiatives with a clear focus on scalable, secure and agile frameworks. They ramped up investments on cloud for scalability, AI to leverage data accurately and serve the clients more efficiently, and security to protect their network and systems with greater emphasis on SASE and

Global AI software market to hit $62 billion in 2022, says Gartner

The AI software market encompasses applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems

Happiest Minds aims to lower revenue dependency on US to below 65%

On average, the US gives 48 per cent of the revenue to domestic software companies, down from 55-60 per cent earlier.

Despite chip shortages, our clients haven't cut tech spend: KPIT Tech chief

In a Q&A, Kishor Patil, CEO and MD of the firm, also dwells on attrition and his company's initiatives to arrest it

Microsoft Corp could once again unseat Apple as most valuable company

The software giant is showing that it could have the best fundamental outlook

Microsoft Corp posts $20.5 bn in profits riding on Cloud, Office biz

Satya Nadella-run Microsoft has posted robust revenue riding on a strong performance on its cloud, server, and Office businesses

How to eat the world

Should the next 5 million software engineers be hired and trained like the first 5 million?

Exports of software services up 2.1% to $148.3 bn in 2020-21: RBI survey

Exports of software services, including services delivered by foreign affiliates of Indian companies, recorded 2.1 per cent growth during 2020-21 and stood at $148.3 billion, as per a RBI Survey

Infosys, SAP tie up to provide Business Process Transformation-as-a-Service

Infosys on Wednesday announced a strategic collaboration with SAP, a market leader in enterprise application software, to provide Business Process Transformation-as-a-Service to enterprises. Through this collaboration, Infosys will leverage business process intelligence (BPI) from SAP to identify opportunities and obstacles in the transformation journey and create a roadmap for clients, Bengaluru-headquartered Infosys said in a statement. Executive Vice President & Global Head of Enterprise Application Services, Infosys, Dinesh Rao, said, As we navigate through Cloud, BPI becomes an essential component of the transformation journey for enterprises". "Given our strong relationship with SAP, we will continue to deliver value and innovative solutions to our clients", he said. General Manager, Business Process Intelligence, SAP, Rouven Morato, said the value of BPI extends beyond IT and actually impacts how businesses operate.

HCL, HANCOM collaborate to share advanced software technology solutions

HCL Technologies on Tuesday said it has signed a pact with South Korean software company HANCOM Inc to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion. HCL Technologies will support training for software development at HANCOM's research and development (R&D) centre in India, which was established in 2016, according to a regulatory filing. The Indian tech firm will also share its development studio and provide HR support to meet demand and development capacity at the R&D centre, it added. In addition, it will promote technological cooperation to strengthen HANCOM products' global competitiveness. The two companies also plan to cooperate on global market expansion, the statement said. This includes HANCOM's entry into Southeast Asian countries such as Taiwan, Vietnam and Bangladesh, Middle Eastern countries, and HCL Technologies' business expansion into the South Korean market, it added. "South Korea is a key strategic market

Infosys to announce Q2 earnings, interim dividend on Oct 13

India's second largest software services firm Infosys on Monday said it will announce its financial results for the September quarter on October 13.

IBM to set up Software Lab in Ahmedabad: Check details here

Proposed expansion is aligned with IBM's vision to shape future of software development through an open, secure, decentralized architecture that helps clients automate, secure, modernize and predict

Software startup Postman's valuation tops $5.6 bn after $225 mn fundraise

Postman was founded in 2014 by Abhinav Asthana, Ankit Sobti, and Abhijit Kane

Doxel raises $40 mn in Series B funding from Insight Partners, others

The funding would help Doxel to accelerate recruiting across its engineering, sales, marketing and product teams

Services sector expected to grow at 28% in 2021-22, says SEPC

Services Export Promotion Council (SEPC) Chairman Maneck Davar said that in the first quarter of 2021, the exports stood at $54 billion.

HDFC Bank acquires 7.4% stake in product engineering firm Virtuoso Infotech

Virtuoso Infotech Pvt. Ltd., an enterprise software solutions company, founded by Preeti Nahar and Yogesh Satpute, based out of Pune, India announced today the news of its first investment fundraise.India's largest private sector bank HDFC and its subsidiary HDFC Securities Limited has acquired a 7.4 per cent stake in Virtuoso Infotech.Virtuoso Infotech specializes in product engineering and offers customized software solutions for enterprises across a wide range of sectors. The list includes software solutions for Hospitality, Finance, Media, Religious Institutions, Communities, Cloud Computing, Food & Travel industries, using Data Analytics and Machine Learning.This relationship will strengthen, company's vision to become a reliable software technology partner for Indian Enterprises and bank's objective to digitize under-served and under-penetrated segments using digital solutions."We thank HDFC Bank for their confidence and trust in Virtuoso's tech capabilities," says Preeti .

John McAfee, antivirus software pioneer, found dead in Spanish prison

Businessman founded McAfee Corp. in 1987 and led the company as it dominated the market for antivirus protection of personal computers.

Microsoft becomes second US public company after Apple to join $2 trn club

Shares of software giant have gained 19% so far this year

K2V2 Tech expects Kylas CRM software to be Rs 70 cr revenue rate in 3 yrs

IT company K2V2 Technologies expects its newly-launched SME-focused CRM software Kylas to break-even in six months and touch annual revenue rate of Rs 70 crore in the third year of operation.

Microsoft Corp in talks to acquire Discord for more than $10 billion

Discord has been talking to potential buyers and software giant Microsoft is in the running, but no deal is imminent