Stats and Insights of Indian IT and Software Industry in 2019FY19: Indian IT and Software Industry 5 min. | 13th Feb., '19
In existence since the 1960s, software potential rise with Personal Computers (PC) in 1970s and expanded its reach with the growing market for application, games and utility development, and in the 21st century with the rise of Software as a Service (SaaS) the software market is ever expanding. Today, Indian software companies are contributing to the growth of the Indian economy with a compounded growth of 60% each year offering IT services to more than 95 countries all around the globe.
India is an abundant house of technical manpower being home for the world's finest IT service provider companies from major cities of India such as - Bangalore, Delhi, Mumbai, Kolkata, Chennai, Pune, and Hyderabad. Today, India is the 3rd faster-growing market for software enterprise.
Technology has rapidly evolved for the past decade and so is the demand for Information Technology services and products leading to the industrial revolution in the Indian market. IT helped represent India as a big player in the global market is one of the finest growing economies in the world providing the high-end business solution and opening new export verticals.
Today, with 75% of global technological skilled profession India has become a global hub for the digital sourcing market and IT solutions.
IT Sector is broadly categorized into Software, IT Services, and Information Technology enabled services (ITeS) and IT Hardware segment.
Software industry comprises of software products, engineering and R&D services serving Small, Medium and Large organization with simplified business solutions.
Infrastructure Software serving to connect the people with systems to efficiently execute business processes, such as Business Intelligence (BI) Tools, Security software, Application Development, Database Management Systems, IT Operations, Operating-System Software, etc.
Enterprise Software designed to solve business problems, such as Consumer Relationship Management (CRM), Human Resource Management (HRM), Enterprise Resource Planning (ERP), Supply Chain Management, Content Management System, Project Management System, etc.
SE services deals in finding the application of engineering to the development of software products.
R&D service concerns to creating new software product innovation targeting cost cutting, efficiency, strategies formulation, participation, etc.
IT Services are oriented into two segments:
Services catered towards clients requirement, onsite or offshore.
One organization serves another for the need for deploying or managing its IT architecture and systems.
Services to install, configure and maintain hardware and software solutions into the client's system or to educate the process of the IT system.
These services are delivered offshore using a means of software and internet transmissions covering the whole range of IT for refining productivity such as - Financial & Accounting, Human Resource, Knowledge Process Outsourcing, Business Process Outsourcing, etc.
The software industry has faced major disruption in traditional business modal with the introduction of digital transformation technologies like artificial intelligence, internet of things (IoT), cloud computing, big data and so forth. However, the Indian IT industry scaling up to the value chain offering more end-to-end solutions, digital revenues and government's scheme like Make in India, Start-Up India, and Digital India.
The digitally skilled manpower is also increasing rapidly with wage level being lower than most countries resulting in the unmatched value proposition. The highly qualified pool of technical manpower, government's initiative, and digital technologies have shown a greater impact in the software market with a revenue of 5.8 billion US dollars in FY2018 .
India is considered to be one of the major IT force in the global software market with advancement in education, government initiatives, investment opportunities, and skilled manpower charactering following:
 Indian enterprise software market revenue from 2013 – 2018: https://www.statista.com/statistics/328203/indian-software-market-revenue/
World's no. 1 outsourcing destination. | 8 min
Threats in Cyber Space. | 8 min
FY19: Indian IT and Software Industry | 5 min
Better manage your business. | 6 min
The future is now here! | 7 min
All you need to know about Website & Web Application Development | 8 min
All you need to know about Custom Business Software Development | 10 min