The software industry, perhaps the fastest growing segment within ICT because of its scope that ranges from personal computer applications, operating systems, network management tools, enterprise software, software applications, operating systems, LOB/vertical specific and customized software.
Much of the R&D budget within ICT goes to the development of software. The industry has witnessed numerous transformational changes, e.g. on-premise to cloud based software. The emergence of cloud, mobile computing, applications such as business intelligence and analytics have given a facelift to the industry after stagnation in the ERP and DBS era making sure that the software industry growth continues.
Besides the solution licensing market, a distinct IT services market has carved out over the years. Consulting/advisory and integration business has turned out to be an important component within ICT market. “Managed services” as a buzzword has seen a steep growth across all sections of the market. At one step up RMIT (Remotely Managed) is building its own market. Most of the hardware or the software companies have ultimately increased their focus on IT services. Pure play service providers or popularly known as MSPs have created their own market. Even some of the telecom giants in addition to their traditional product line have started offering managed services in their portfolio.