Over the years, the Indian IT Industry has evolved considerably, from services to products and end-to-end solutions that cater to Indian and global needs. India is witnessing an incredible surge in the number of products start-ups with offerings ranging from e-commerce to cloud platforms. Keeping this trend in mind, the theme for the NASSCOM Product Conclave 2013, is ‘The Community Meet-Up Of Doers Who Share!’ and will be held between 28th and 30th of October. On the side-lines of the same, The National Association of Software and Services Companies (NASSCOM) today announced the Indian Product Landscape overview for 2013, stating that Software product revenue from India has doubled and now stands at USD 2.2 billion.
This year the conclave will take a different approach by placing the spotlight on real people that are breathing their startup every moment and are doing the business of entrepreneurship.
The Indian product landscape has been gaining international recognition for its contribution in the global arena, as it is improving capabilities & providing dedicated sales/pre-sales teams and bundled offerings to customers. With a variety of investment avenues available for companies including PE/VC, incubation centres, crowdsourcing and angel funding; the Indian product story is now being driven by access to funding and technology, growing domestic market, and presence of success stories which are evangelizing new entrants.
Speaking about the landscape, Mr. Som Mittal, President, NASSCOM said “The products ecosystem is rapidly evolving and is being supported by the industry, incubators, angel investors and mentors. This trend is also driven by rapid tech adoption across segments of the industry; with consumers, enterprises, SMB, government now looking at e-solutions for businesses and processes. This is creating ample opportunities for the developers, operating in various verticals. This indicates that we are reaching the precipitous of the providing not just services, but high end products to the world.”
The IT-BPM Industry continues to build strong interest from the VC/PE community; as software, internet and mobile industries account for 65% of total VC investments in India. Transaction value of VC/PE deals in software products space since 2008 amounts to a total of USD 711 Million. The impressive growth of the sector was driven by various factors including increase in mobility devices, online transactions, and newer technologies with lower operating costs. Cloud technology is also expanding access to larger customer base and driving demand for hosted applications, which will be the catalyst for growth in the future.
Speaking about the impressive growth in the sector, Mr. Ravi Gururaj, Chairman, NASSOM Product Council said “The purpose of the NASSCOM Product Council is to establish India as the hub for high value, innovative and next-generation software products. Here it’s safe to add that we are well on the path to achieve this. We have been working with the industry to sustain the products landscape momentum, through partnerships with Indian firms for ISV initiatives and networking and helping showcase Indian products for M&A. Also, we have held Country-wide workshops on technology for firms across domains.”
Indian companies are now making forays into new geographies and vertical segments. These segments have untapped potential and companies are fast realizing their importance. In terms of locations, tier 2 and 3 cities like Kochi, Ahmedabad and Kolkata are fast emerging as product hubs. The top products from these centers are noted to be Enterprise Business Software and Application Development Products. The primary verticals of the products landscape are still technology and BFSI with both segments having a share of pie of 32% and 10% respectively when it comes to the number of players. Continuing the trend SMAC has seen a steady growth with number of firms on a steady rise in the domain. Security solutions for enterprise & home use are now becoming an upcoming segment with various firms building Antivirus and related security products.
India has close to 600 product firms offering nearly 1,300 products. The 80 per cent of the firms have more than 100 employees each accounting for about one-fourth of total employees. Product firms are expanding horizons, incubating products for new verticals, segments and formulating partnerships to evolve & grow. This domain will continue to develop in the future providing a sustainable economic environment to the country and creating employment across sectors. Year-on-year, the product conclave has been consistent success. Some of the key sponsors for the conclave include Google, Sony, Cisco, EMC2, Avangate & CA Technologies.
About NASSCOM
NASSCOM® is the premier trade body and the chamber of commerce of the IT-BPO industries in India. NASSCOM is a global trade body with more than 1300 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member and associate member companies are broadly in the business of software development, software services, software products, consulting services, BPO services, e-commerce & web services, engineering services off-shoring and animation and gaming. NASSCOM’s membership base constitutes over 95% of the industry revenues in India and employs over 2.32 million professionals.
This year the conclave will take a different approach by placing the spotlight on real people that are breathing their startup every moment and are doing the business of entrepreneurship.
The Indian product landscape has been gaining international recognition for its contribution in the global arena, as it is improving capabilities & providing dedicated sales/pre-sales teams and bundled offerings to customers. With a variety of investment avenues available for companies including PE/VC, incubation centres, crowdsourcing and angel funding; the Indian product story is now being driven by access to funding and technology, growing domestic market, and presence of success stories which are evangelizing new entrants.
Speaking about the landscape, Mr. Som Mittal, President, NASSCOM said “The products ecosystem is rapidly evolving and is being supported by the industry, incubators, angel investors and mentors. This trend is also driven by rapid tech adoption across segments of the industry; with consumers, enterprises, SMB, government now looking at e-solutions for businesses and processes. This is creating ample opportunities for the developers, operating in various verticals. This indicates that we are reaching the precipitous of the providing not just services, but high end products to the world.”
The IT-BPM Industry continues to build strong interest from the VC/PE community; as software, internet and mobile industries account for 65% of total VC investments in India. Transaction value of VC/PE deals in software products space since 2008 amounts to a total of USD 711 Million. The impressive growth of the sector was driven by various factors including increase in mobility devices, online transactions, and newer technologies with lower operating costs. Cloud technology is also expanding access to larger customer base and driving demand for hosted applications, which will be the catalyst for growth in the future.
Speaking about the impressive growth in the sector, Mr. Ravi Gururaj, Chairman, NASSOM Product Council said “The purpose of the NASSCOM Product Council is to establish India as the hub for high value, innovative and next-generation software products. Here it’s safe to add that we are well on the path to achieve this. We have been working with the industry to sustain the products landscape momentum, through partnerships with Indian firms for ISV initiatives and networking and helping showcase Indian products for M&A. Also, we have held Country-wide workshops on technology for firms across domains.”
Indian companies are now making forays into new geographies and vertical segments. These segments have untapped potential and companies are fast realizing their importance. In terms of locations, tier 2 and 3 cities like Kochi, Ahmedabad and Kolkata are fast emerging as product hubs. The top products from these centers are noted to be Enterprise Business Software and Application Development Products. The primary verticals of the products landscape are still technology and BFSI with both segments having a share of pie of 32% and 10% respectively when it comes to the number of players. Continuing the trend SMAC has seen a steady growth with number of firms on a steady rise in the domain. Security solutions for enterprise & home use are now becoming an upcoming segment with various firms building Antivirus and related security products.
India has close to 600 product firms offering nearly 1,300 products. The 80 per cent of the firms have more than 100 employees each accounting for about one-fourth of total employees. Product firms are expanding horizons, incubating products for new verticals, segments and formulating partnerships to evolve & grow. This domain will continue to develop in the future providing a sustainable economic environment to the country and creating employment across sectors. Year-on-year, the product conclave has been consistent success. Some of the key sponsors for the conclave include Google, Sony, Cisco, EMC2, Avangate & CA Technologies.
About NASSCOM
NASSCOM® is the premier trade body and the chamber of commerce of the IT-BPO industries in India. NASSCOM is a global trade body with more than 1300 members, which include both Indian and multinational companies that have a presence in India. NASSCOM's member and associate member companies are broadly in the business of software development, software services, software products, consulting services, BPO services, e-commerce & web services, engineering services off-shoring and animation and gaming. NASSCOM’s membership base constitutes over 95% of the industry revenues in India and employs over 2.32 million professionals.
