The accession to power by the “business friendly” BJP party in India has resulted in the software market starting to grow again.
That’s according to a report by market intelligence firm IDC, which said during the first half of this year, the market grew by 10.7 percent, compared to the first half of 2013.
IDC thinks the market will continue to grow in the next five years with a compound annual growth rate (CAGR) of 10.5 percent.
Areas of growth include mobile application development and device management, security software, systems software and engineering applications.
Shweta Baidya, a senior market analyst at IDC, said that large and small to medium enterprises want to curb capital expenditure and move into the cloud.
Virtualisation and cloud players like Vmware, Salesforce and Red Hat generated good business, and database and analytics companies including Teradata, Oracle, Qlik and others saw double digit growth.
IDC provided a pie chart which shows market share in the region.
