India's software market to grow 12.8 per cent to $5.3 billion in 2016, says Gartner

Country's software market is likely to witness a growth of 12.8 per cent to reach $5.3 billion in 2016, research firm Gartner said on Tuesday.

"The enterprise software marketplace is dynamic and ever-changing. Its growth and structure are being shaped by factors and forces of decentralised purchasing, consumerisation, mobility, influence of other emerging markets, cloud-based implementations, and new consumption models," Gartner Research Director Bhavish Sood said in a statement.

The growth is being driven by trends like increasing adoption of Software as a service (SaaS) and open source software (OSS), changing buying behaviors and purchasing styles associated with digital business and Digital India initiative of the Indian government.

"In 2015, the Indian economy has shown signs of resurgence, with increased efforts by the government toward ease of doing business... It is also evident that the Indian government is serious about leveraging information technology for effective governance," he said.

Corporations also want to know how to use digital technologies, services and disciplines to create new growth opportunities, Sood added.

Businesses are getting ready to digitally transform, creating new organisations, and leadership roles.

This transformation is generating varying degrees of adoption, experimentation and spending in the newest technologies, Gartner said.

Branded companies that sell to consumer markets are more rapidly purchasing and adopting digital applications to expand their digital footprint and strengthen their competitive positioning, it said.

Increasingly, Indian enterprises will be evaluating emerging technology solutions on innovation and business impact rather than cost and ease of deployment, it added.