New Delhi, 25 March (IANS). India’s domestic software market may see a sharp increase in the coming times and by 2035 it can increase five times to reach $ 100 billion. This information was given in a report released on Tuesday.
According to the reports of Saasbami and 1 Latis, the increase in the size of the industry is due to AI -led automation, cost -effective software development, small and medium business (SMB) to adopt a large number of software by small and medium business (SMB) and increase the digital initiatives of the government.
In the present (2025), the value of the Indian software market is $ 20 billion.
The report states that India’s software market has increased by seven times since 2015. However, about 75 percent of the market still has global companies.
The report stated that Indian startups would need to develop home solutions to suit the country’s commercial and regulatory requirements to achieve success in the next phase of development.
AI and Cloud will play an important role in furthering India’s software development. The market size can increase $ 35 billion from the occasion.
The report further stated that the expenditure on software will increase due to digital first business in the coming years. By 2035 it is expected to increase to $ 26 billion.
Cyber security is another high -growth area, which is expected to increase the market size from $ 1.6 billion to $ 10 billion in 2025 to $ 10 billion.
Government expenditure on software is also going to increase to a great extent, which will increase from $ 1.6 billion to $ 8 billion in 2025 to $ 8 billion.
1 Latis CEO and co-founder Amar Chaudhary said, “The future of SAAS will be of companies that can gain efficiency without renouncing ambition.”
Sasbumi CEO Avinash Raghav said, “India’s software ecosystem has long been influenced by global companies, but now we are at a significant turn. The opportunity in our domestic market is very big and unused.”
-IANS
ABS/