Indian Software Products Industry is expecting to emerge as an important driver
According to NASSCOM (National Association of Software and ServiceCompany)Â India,the Indian Software Products Industry is expecting to emerge as an important driver and the …third wave of growth for the country’s IT industry.
Key characteristics of the Indian software products marketplace
The Indian software products segment is being defined by the following factors and features:
* The domestic market for software products is currently dominated by Multinational product companies
* The single largest segment of software in which Indian software products have presence is ERM applications. The Telecom and Mobile segments are growing
* Revenues from e-governance and the SMB sector are poised to grow
* There are over 140,000 engineers working in product development in India across MNC, OPD and Indian product businesses. Close to 50 per cent of the talent is working in MNC centres
* The domestic market is growing rapidly, particularly in the SMB (e.g. ImpelCRM) and e-governance (e.g. OrangeScape) segments
* The critical mass of experienced product development talent now in sight
* The VC/Angel ecosystem for software product businesses is continuing to mature (e.g. Indian Angel Network now has over 85 members)
* New distribution models for global market access are coming up (e.g. Zoho, FusionCharts, SourceBits)
* MNCs like Intel, Microsoft, Adobe and Yahoo! are investing to develop the local product ecosystem
Indian Software Products Industry is expecting to emerge as an important driver: Ingelinks.com Nov 2009
