Latest News | Application Software Spending in India to Grow by 15 Pc to $4.7 Bn in 2023: Gartner

New Delhi, Aug 24 (PTI) End-user spending on enterprise application software in India is expected to grow by 14.9 per cent to USD 4.7 billion in 2023, a Gartner report said on Wednesday.

Customer experience and relationship management is expected to continue most of the spending, it added.

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The spending this year is expected to grow by 14.6 per cent to USD 4.15 billion, according to Gartner.

"Driven by the digital transformation agenda, Indian enterprises will continue to expand the share of software spending in their broader IT spending. Organisations are increasingly relying on software to operate all aspects of business," Gartner vice president analyst Neha Gupta said in the report.

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However, the growth in software spending will be lower in 2022 than in 2021.

"The volatile global macroeconomic situation has increased business uncertainty. Organisations will continue to put new long-term projects on hold selectively and cut the scope of high-cost projects and instead look to "quick win" projects that either have a shorter return on investment (ROI) or provide a competitive edge," Gupta said.

Customer Relationship Management (CRM) software is estimated to grow by 18.1 per cent in 2022 to USD 1.13 billion and by 18.5 per cent in 2023 to 1.34 billion.

Spending on email and authoring is expected to grow by 16.5 per cent to USD 768 million, enterprise resource planning to grow by 10.3 per cent to USD 566 million, analytics platform by 18.2 per cent to USD 495 million, content services by 14.8 per cent to USD 366 million and supply chain management software by 11.4 per cent to 241 million by 2023, the report said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)