Global Software 100 Leaders - 2011

The Indian software industry is identified with software services that have set gold-standard benchmarks in delivery and process excellence. It has been one of the greatest success stories of modern India.

The focus on services has historically relegated the Indian software products industry to the background, with software products revenues accounting for less than 5% of the $50 billion Indian software industry. The last decade, however, has seen the number of Indian product companies grow five-fold, from about 100 in 1999 to 525 today. Among the India Top 100 software vendors, most are small, with almost 80% of revenues coming from the top 20 companies.

Banking sector products from India have been the most visible in the international arena. i-flex (acquired by Oracle in 2005) was the most notable example with its core banking solution, Flexcube. Other core banking solutions being sold worldwide are Finacle (from Infosys) and BaNCS (from Tata Consultancy Services).

More recently, software product development in education and training, logistics, healthcare, cleantech, talent management, and mobile applications (including mobile stock trading) have been triggering what industry observers believe will be the next wave in India’s software revolution.

Developing and commercialising software products has traditionally required significant investments in product development, branding, and marketing, all of which have been beyond the reach of smaller firms. Disruptive technologies like cloud computing, social networks, and the telecom revolution have reduced the cost of technology development and the cost of market reach.

For example, for mobile applications, a developer uses shared resources on a cloud to build applications, and leverages the marketing muscle of a telecom provider to sell them. Traditional software services companies are building out standard platforms for service delivery which could be sold as products in their own right.

With growth strategies led by innovation and intellectual property becoming more mainstream, we believe the Indian software product industry is well placed for the next phase of growth. The Indian software industry body, NASSCOM, expects revenues from this industry to be between US$9.5 and $12 billion by 2015.

 

Top 10 Indian Software Product vendors
Ranked by Software Product Revenue - Worldwide (in million euros)


  1. TCS
  2. Infosys
  3. 3i Infotech
  4. Teledata
  5. Persistent Systems
6. Geodesic
7. Educomp
8. Cranes
9. Rolta
10. Geometric

 Source: Pierre Audoin Consultants (PAC), Year ending 2010 figures (wherever not available, figures are as of year ending 2009)

Click here to view the full listing of the Top 100 Indian Software Product vendors