App Development Growth in India
App development market grows fast in India as both startups and established businesses scramble for a mobile presence.
Times of India reports that the startup boom in the country is propelling a parallel IT services industry. While established technology companies such as Infosys and Tata Consultancy Services largely cater to overseas customers, upcoming firms are focusing on India, quenching the domestic demand for mobile-era solutions.
"We started getting a lot of demand from Indian startups mid-last year," said Akash Takyar, who heads Gurgaon-based LeewayHertz Technologies. The seven-year-old company started as a US-focused business, but gets a fair share of business from India.
As India becomes the world's fastest growing mobile app market, traditional companies, banks, travel firms, and even startups are scrambling to get a make-over, channeling revenue into small and medium-sized app makers such as Space O, LeewayHertz and Australia's Appster.
"Of every 10 customers, about six are startups," said Bhaval Patel of Ahmedabad-based Space-O Technologies, which has a development office in Russia and a sales office in the United States. Patel said the technology requirements of customers have become more complex since the company's inception five years ago. While customers sought website solutions in the past, now there are requirements for apps for mobile and wearable devices.
Firms like LeewayHertz and Space-O, called offshore product development centers, are seeing a significant chunk of their revenue come from the Indian subcontinent. According to Clutch, a company that identifies top software and professional services firms, there are at least 250 app development companies in India today. Missing out are leading Indian IT services firms, which are not developers of choice for young startups.