Enterprise software mkt in India to reach $4.2 bn: Study

The enterprise software market is projected to reach $4.2 billion in 2014, a 13 per cent increase over 2013 revenue of $3.7 billion, according to research firm Gartner Inc. The market is projected to total $4.7 billion in 2015, the firm said on Friday.

Revenues from infrastructure-support software sales is expected to touch an estimated $2.7 billion in 2014 from an estimated $3 billion in 2013.

Compounding demand for enterprise software is the tendency for greater customer services along with the continued drive for IT cost savings. “The incorporation of emerging technologies into solutions, such as mobility, social, cloud and business process management is also driving growth,” Bhavish Sood, research director at Gartner, said.

“India enjoys the rich presence of international software and hardware vendors, backed by a very strong ecosystem of system integrators, service providers and business partners,” said Sood. By 2018, India’s share of the software market in Asia/Pacific is expected to reach $6.8 billion.