Reflecting an immense growth potential, India's Enterprise Application Software market stood at $39.4 million on 2002 constituting six per cent of Asia Pacific EAS market, according to Gartner Dataquest.
"The Indian EAS market grew two per cent in 2002, the highest growth recorded within the APAC region," Bob Hayward, senior vice-president of Gartner APAC told reporters in New Delhi.
He said the Indian market reveals immense potential for growth in EAS space with current penetration levels at 37 per cent for Enterprise Resource Planning, 15 per cent for Customer Relationship Management and 10 per cent for Supply Chain Management.
"ERP was the main growth driver for 2002 and remained the biggest component with a marketshare of 52 per cent while a large proportion of users in Indian ERP market was the deployment of home-grown or custom developed ERP solutions," he said.
In terms of vertical IT spend, communications is the largest vertical followed by manufacturing and financial services.
"However in the long run, financial services will have the fastest growth rate by 2005," he said.
