NEW DELHI: Software market in India grew 10 percent to $4.76 billion in 2013, driven by strong adoption of cloud or subscription-based services, research firm Gartner said.

The software market stood at $4.334 billion in 2012. "The Indian software industry is in the middle of a multi-year cyclical transition as organizations are focusing investments on technologies to support existing system structure," Gartner Research Director Bhavish Sood said in a statement.

Organizations are doing this in order to maintain competitiveness, while still taking advantage of cloud/ subscription-based pricing where it makes sense to grow and advance the business, he added.

Microsoft was the market leader with 20 percent share and $957.3 million in revenues. It saw its revenues growing 10.6 per cent from $865.9 million in 2012.

There was a shift in vendor rankings from 2013 with Oracle ranking second in terms of total software revenue with approximately $505 million in 2013 and capturing 7.3 percent of the market.

"Trends around business intelligence and analytics, with increasing customer investments in database management systems, helped drive Oracle's top-line growth," Sood said.

IBM ranked third ($446.6 million), followed by SAP ($324.3 million), VMware ($94.4 million), CA Technologies ($52.7 million) and Adobe ($42.5 million). Others in the list included SAS and HP as well.

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