New Delhi, May 26: As many as 16 Indian companies have made it to the list of top 100 software vendors in the emerging markets, commanding a combined revenue of USD 797 million, says a PwC report.
The latest PwC global 100 software leaders report also says that in terms of revenue, India was ranked fifth among the emerging markets in 2011.
In terms of software revenue among emerging markets China topped the list with USD 2,738 million, followed by Israel USD 1,174 million (2nd), Russia USD 1,015 million (3rd), Brazil USD 945 million (4th) and India USD 797 million (5th).
Meanwhile, Geodesic was ranked 14 on the list of software services revenue, followed by OnMobile (21), Subex (26), Infosys (27), TCS (29), FT India (35) and Tally Solutions (39).
Among other Indian firms, Cranes Software was placed in the 44th position in the list, followed by 3i Infotech (60), Newgen Software (62), Ramco Systems (64), Persistent (65), KLG Systel (71), Polaris Software (72), Educomp Solutions (85) and Teledata Technology (89).
"Emerging markets are poised to play an increasingly pivotal role in the global software industry. Focus on innovation, growing talent pool and government support are just some of the advantages of this market segment," the report said.
Meanwhile, the number of software product firms have grown over the last decade from a little over 100 in 2000 to nearly 2,400 in 2013, it said.
According to the industry body NASSCOM, the revenue from the software product segment currently stands at 2.2 billion USD and is expected to reach 10 billion USD by 2020.
The PwC report noted that software-as-a-service is gaining traction. Moreover, industry consolidation and increasing globalisation are also transforming the software
"The Indian IT industry has been primarily identified with software services and this focus has relegated the software products segment to the background. However, of late, we are seeing a change in the fortunes of this segment due to significant growth," PwC India Leader Technology Sanjay Dhawan said.
Emerging technologies such as Social media, Mobility, Analytics and Cloud (SMAC) are driving the growth in the software product segment and helping it move to the next level, Dhawan added.