By Lalit S. Kanodia, Founder & Chairman, Datamatics
The growth of the Indian IT industry has seen some distractions and a sluggish movement over the past few years. Many new opportunities have opened up in other platforms concomitantly which are prevalently referred to SMAC (Social, Mobile, Analytics and Cloud). Conversely, among the SMAC aspects, Cloud and Mobility offer the major potential in the industry. Some other pertinent solutions like e-learning, Open Source and 'the Internet of Things' will also open up new and dynamic opportunities.
IT industry Heading towards a Vibrant Revolution
There are two significant views on the IT industry. First of all, developments that stimulate economic growth seem to come in waves of 50 years and this is accepted as the primary one. Hence, the startup of IT formulation which took place in 1980 will definitely cease during the 2030s and will bring about another revolution of processes. Secondly, the IT wave is the 2nd transformation which will last for the upcoming 200 years.
Focus should be on Constructing Dynamic Ideas
The dimensions of Indian software companies are at the peak and any considerable boost will prove to be counterproductive. Hence, we now need to focus on developing products parallel to Microsoft, SAP and ORACLE. This will require a unique strain of developers.
Intricate Challenges faced by Entrepreneurs
The transformation of software service industry into the most efficient division has proven to be a capital intensive business. Therefore, there are very less chances for small entrepreneurs to congregate necessary resources and play the game. Today, major breakthroughs come from moderately small enterprises. So entrepreneurs should take vital steps to plan on developing I.P. and monetizing it.