India’s software market grew at 12.4% in January-June 2019: IDC report

The Indian software market grew 12.4 per cent year-on-year in January-June of 2019, according to an International Data Corporation (IDC) report on Thursday.

India’s overall software market was estimated to grow at a compound annual growth rate (CAGR) of 14.1 per cent between 2018 and 2023, said the Worldwide Semi-annual Software Tracker report.

India accounted for 12.4 per cent share of the Asia Pacific, excluding Japanese region, software market. India is expected to achieve a higher growth rate vis-a-vis some other major economies in the region, according to the estimate.