India's software market to touch USD 5.1 billion by 2018: IDC

By ZTPL Dec 26, 2017
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.
"Digital transformation initiatives and the drive for application modernisation have led the growth story for the software market over the last 12 month and are expected to attract sustained investments by Indian enterprises in 2018 as well," it added.

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.

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