The Indian software product market?which has grown to $1.64 billion from $113 million in last ten years?is expected to grow further, driven by demand in the domestic market and accelerating IT spend among the small and medium businesses (SMB) globally, Nasscom said on Tuesday.
?Domestic market is opening up and India offers a huge market to cash in on. We are seeing ample opportunity in the SMB sector across the world who are spending on IT. Five years from now, India should be a hub for business application for the SMB market globally,? Sharad Sharma said at the Annual Nasscom Product Conclave in Bangalore on Tuesday
In the last decade, India?s growth as a software product destination has been significant. According to Nasscom reports, software product revenue from exports have grown 13.1% growth since 2007 to touch $1.14 billion in 2010.