Indian Software Product sector to excel: Nasscom Study

Here is the good news for the Indian software market, as Nasscom-Zinnov analysis reveals that the Indian software product sector is expected to register a 10-fold increase in revenues over the next seven years. Revenues may range between $9.5 billion and $12 billion by FY15. In the global arena, India is well know for its excellent software services. There are 371 software products in India and most most of the companies are going to have good days in near future, according to the study.

The top 10 companies still dominate the software product development market, accounting for 84 per cent of segment revenues from India. The study reveals that the size of the domestic software market in 2008 was $2.3 billion, of which, Indian software product companies cornered about $460 million and the global software product companies garnering $1.84 billion. Indian software product companies sold about $960 million worth of products out side India.