The software market of India registered a stable year on year growth of 10 percent, slower than expected during 2H 2014, according to IDC India Software Tracker.
The top vendors of the year were Microsoft, SAP, Oracle, IBM and Synopsys who held more than 60 percent of the market collectively while manufacturing, banking, finance, securities and investment services, communication and media and IT/ITes were the most invested verticals.
“Some of the larger software vendors restructured their organization in line with the emerging technologies and re-aligned their strategies to capture the mindshare in the growth markets such as SMB, cloud, analytics and mobility. This has worked quite well for them and they have managed to grow in spite of the uncertainty in the market," said Shweta Baidya, senior market analyst at IDC India.
IDC predicted that there will be a steady momentum in 2016 and after as deals are expected to be implemented.
The market is divided into the Application Development Deployment (AD&D), System Infrastructure Software (SIS) and Applications. While the Applications market grew by 10 percent, the total AD&D market grew by 9.5 percent and the SIS market grew by 8.5 percent.
Major projects like Digital India, Make in India and Pradhan Mantri Jan Dhan Yojna started by the government have pushed the adoption in other sectors as well.