Research Nester has released a report titled “India Independent Software Vendors (ISV) Market: Demand Analysis & Opportunity Outlook 2030″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
Service exports in India touched USD 214.762 Billion (in current US$) in the year 2019, up from USD 92.889 Billion in the year 2009, according to the statistics by the World Bank.
The statistics portray the growing exports of IT services, backed by the rising demand for such services from organizations around the world. The IT companies in India contributes a major share of the GDP in terms of IT services exports. By having such a strong IT infrastructure in the country, numerous independent organizations are taking the opportunity to further enhance their services, which in turn, is expected to drive the growth of the India independent software vendors market in the coming years.
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The India independent software vendors (ISV) market is anticipated to grow with a CAGR of 11.47% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 1373.27 Million by the end of 2030, up from a revenue of USD 456.46 Million in the year 2020. The market is segmented by application into financial services, healthcare, industrial & manufacturing, public sector & utilities, retail, service provider, telecom, media & entertainment, and others. By the end of 2030, the retail segment is expected to generate the largest market revenue of USD 432.58 Million. The segment, which registered a revenue of USD 118.66 Million in 2020, is further expected to grow with the highest CAGR of 13.63% during the forecast period.
However, the rising concerns for data security and the increasing operational and capital expenditure of ISVs are some of the major factors predicted to hinder the market growth in the coming years.
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This report also provides the existing competitive scenario of some of the key players of the India independent software vendors (ISV) market, which includes company profiling of Tata Consultancy Services Limited, Infosys Limited, 3i Infotech, C1 India, Enaviya Information Technology Pvt. ltd., Cognizant, IBM, Bartronics India Limited, KPIT Technologies Ltd, Educomp Solutions Ltd., CMC Limited, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “India Independent Software Vendors (ISV) Market: Demand Analysis & Opportunity Outlook 2030”, analyses the overall India independent software vendors (ISV) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the India independent software vendors (ISV) market in the near future.
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