Software industry to see strong revenue growth: PwC

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SME Times News Bureau | 25 May, 2013
The Indian software industry is poised for a strong revenue growth driven by social media, mobility, analytics and cloud, said a report published by PricewaterhouseCoopers (PwC).

The Indian companies in the top 100 emerging markets list bring combined revenue of USD 797 million. India ranks fifth among the emerging markets based on revenues, according to the PwC Global 100 Software Leaders report, a revenue-based study on the world's top 100 software vendors.

The recent report also contains indices of the top 100 software vendors in North America, Europe Middle East and Africa, and the emerging markets.

"The Indian IT industry has been primarily identified with software services and this focus has relegated the software products segment to the background. However, off late, we are seeing a change in the fortunes of this segment due to significant growth.

"Emerging technologies such as social media, mobility, analytics and cloud (SMAC) are driving the growth in this segment and helping it move to the next level," said Sanjay Dhawan, leader, technology, PwC India.

A number of software product firms have grown over the last decade from a little over 100 in the year 2000 to nearly 2,400 in 2013. According to the industry body NASSCOM, the revenue from the software product segment currently stands at USD 2.2 billion and is expected to reach USD 10 billion by 2020.