India application software spending to reach USD 4.7 Billion by 2022

India application software are spending to reach USD 4.7 Billion by 2022.

Customers who are spending on enterprise application software in India is likely to add in USD 4.7 Billion in 2022 which is an increase of 14.8 per cent from 2021 as reported by Gartner.

But the growth in software spending is said to decrease in 2022 than in 2021 owing to a fraught global macroeconomic situation that has increased business uncertainty.

Neha Gupta, vice president analyst said, "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," said Neha Gupta.

"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," she further added.

The increased spending will be directed towards improving customers’ digital experiences.

Applications which are critical for maintaining the quality of customer service, say for example, supply chain management (SCM), supply chain execution (SCE) and customer relationship management (CRM), will witness expand in spending as organisations look to address complex supply chains and fraught marketplaces, and more effectively adapt to change and disruption.

Spending on CRM software is expected to grow 18.1 per cent by 2022, while SCM software spending is expected to witness an increase by 10.2 per cent.

The report further said that Indian businesses will also increase spending on email and authoring and content services to continue to support collaboration and remote or hybrid work.                             

What is Supply Chain Execution?

Supply chain execution (SCE) is defined as the flow of tasks involved in the supply chain, such as order fulfilment, procurement, warehousing and transporting. Supply chain management (SCM) is sometimes broken down into the stages of planning, execution and shipping. 

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