With Highest Growth Rate amid the BRIC Countries, India's Software Market Grew 8 Percent in 2014 says Gartner

Bangalore: India's software revenue totaled $4 billion in 2014, an 8.3 percent increase from 2013 revenue of $3.7 billion, according to Gartner, Inc. As per the report, India has the highest growth rate among the BRIC countries (Brazil, Russia, India and China) where Microsoft, Oracle and IBM retain the top three vendors which represent 50 percent of total software sales.

Concerning the research, Bhavish Sood, Research Director, Gartner says, “The enterprise software marketplace is dynamic and ever-changing. Its growth and structure are being shaped by the factors and forces of decentralized purchasing, consumerization & mobility, influence of emerging markets, cloud-based implementations and new consumption models”.

He also added, “Improvement in global economic conditions has somewhat relaxed the strain on the Indian economy, thereby boosting corporate sentiments. Along with a new stable government at the center, this has helped in alleviating concerns about economic growth to a certain extent with early signs of spending in growth initiatives beginning to emerge”.

Among the main drivers for increased IT adoption is the appreciation of IT as an enabler for business change. Gartner analysts expect enterprises to continue to invest in IT to improve productivity and drive enterprise growth by delivering operational results, while reducing enterprise costs and attracting and retaining customers.

As per the BRICS growth rate, the India's software market experienced the highest growth rate. Apart from mega vendors, there’s a thriving ecosystem of product startups that are getting incubated in India, and as such, they are driving software adoption through their innovative, small foot print, low cost products.
 
“Government plans around Digital India, smart cities and increased focus on broadband internet infrastructure is expected to drive local consumption of IT software and associated services. After the last federal election, the mood of the economy has changed and we are slowly seeing a revival in IT spending, particularly in areas of digital and nexus of forces that combine cloud, mobile, social and big data,” affirmed Sood.

 

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