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The analysis of the Indian and global software market is aimed at finding up-to-date information and analyzing the market size, consumers and competitors in the market under study, the changes that occurred in 2017-2019, as well as the forecast and trends in the industry in the long term for the period up to 2024.
Part 1. Overview of the Indian Software Market
1.1. Definition and Characteristics of the Indian Software Market
1.2. Dynamics of the Indian software market volume, 2016-2020
1.3. Market structure by type of service provided in India
1.4. Structure of the software market by Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity
Part 2. Competitive Analysis in the Software Market in India
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of software consumption
3.1. Estimated software consumption per capita
3.2. Market Saturation and Estimated Market Potential in India
3.3. Description of consumer preferences
3.4. Price analysis
Part 4. Assessment of factors of investment attractiveness of the market
Part 5. Forecast of the development of the software market until 2025
Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators
State of the global software market
The global software development and sales market shows stable growth over the period from 2017 to 2020. The most popular software revenue category is the Enterprise software category. In second place is the application development category. Approximately at the same level throughout the study period, the development of system architecture also holds.
Diagram. Global software market revenue from 2017 to 2020 by segments, billion US dollars
Source: Statista Technology Market Outlook
The global business intelligence software market was estimated at $53,68 billion in 2019 and is projected to reach $120,27 billion by 2027.
Business intelligence software helps you interpret and analyze business data by continuously examining legacy business metrics and secondary data to gain critical insights for business planning. The software helps organizations streamline their business operations and facilitate informed and strategic decision making. In addition, it helps to identify patterns and relationships between data flows and leads to the automation of tasks and processes for real-time responses to decision making.
The state of the Indian software market
The software sales market in India is now increasing its growth rate. Every year since 2017, the growth rate of revenue from the sale of software has been more than 45%. Thus, starting from 203 billion rupees from software development services, by 2020, revenue has grown to 839 billion rupees, showing an increase of 2019% compared to 91,7.
Diagram. Revenue from the sale of computer software development services in India (net of value added tax, excises and other similar obligatory payments) for 2016-2020, million Rs.
Revenue by region
The bulk of software revenue growth in 2020 in India was driven by strong growth in development and sales in the Central Federal District. The share of the Central Union Territories in 2020 amounted to 76% or 641 billion rupees, thereby increasing its share in the country's total revenue by 10%, compared with the results of 2019. The second place in terms of revenue is occupied by the North-Western Union Territories, the third place belongs to the Volga Union Territories.
Table. Revenue from the sale of services for the development of computer software in the union territories (excluding value added tax, excises and other similar obligatory payments) for 2016-2020, million Rs.
Prospects for the industry
Due to the COVID-19 pandemic, adoption of cloud-based business intelligence software is expected to increase over the forecast period as companies accelerate their digital transformation strategies and add more business intelligence use cases to their day-to-day operations in an attempt to stay afloat in competitive market conditions. This sector of the economy will continue to benefit from the increasing pace of development for businesses and enterprises.
For a more detailed overview of the dynamics of the market volume, demand analysis, software market, we suggest ordering a full-fledged market research.
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