India Accounting Software’s Market Set to Grow at 19.2% CAGR By 2016
Many small and medium businesses in India are fast adopting the accounting software’s to fulfil their accounting needs. Accounting Software’s market in India is expected to grow at CAGR of 19.2% from 2010 to 2016. The spending in the Indian Software market is showing signs of rebound post the economic meltdown which had engulfed the globe by 2009 and brought sluggishness in the business investment cycle. The software spending in India is likely to scale up from USD 1,989.9 million in 2009 to USD 4,673.5 million in 2014, posting a growth of 23 percent CAGR.
According to the research conducted by TechSci Research, it is estimated that accounting software’s are going to get huge sanctions from the IT Spending Budgets post the crisis, as there has been a shift in the information technology investment decision making. As increasing number of CIOs and other IT investment decision makers of organizations are reporting to their respective CEOs and CFOs, the IT investments are no longer stand-alone but rather strategic in nature. With most of the organizations investing to re-align their operations to garner greater business efficiencies, technologies that enable organizations understand their businesses better are likely to capture greater amount of the IT budgets. Since, accounting forms the basis of understanding any business, IT investments that revolve around this horizontal are likely to get huge sanctions.
“India Accounting Software’s Market Outlook 2016” has evaluated business and non-business issues related to the accounting software’s market in India. This study gives unprejudiced view on the various aspects of accounting software market and helps reader to get complete overview on latest trends, market potential, infrastructure and delivery model related to industry. This study by TechSci Research will definitely help consultants, accounting software providers, software vendors, business managers to identify the market opportunities and will help them in market centric decision making process.