Consumer-focused software products are on rise in India

By SiliconIndia   |   Monday, 29 November 2010, 20:46 Hrs
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Bangalore: Unlike the Indian technology product story a few years ago, which was mainly of enterprise class products, the story now is much of consumer-focused software products, and the last 18 months have seen many other such consumer-focused software product companies, reports Goutam Das of the Financial Express.

According to the estimates made by consulting firm Browne & Mohan, the current number of to Consumer (B2C) software product companies in India is 176. TR Madan Mohan, Managing Partner, Browne & Mohan, says, "B2C companies broadly fall into four categories. There are search and recommendation firms, companies that facilitate purchases, community building, personalization and analytics."

Recently, 'Creative Riot', a company by four graduates from the University of Mumbai, has come up with productivity software called 'Time Trove' that can track everything done on a PC, starting from how much time is spent every day on Facebook to time spent on Office applications.

In January next year, Hayagriva, a Mumbai-based firm, will release a product that can save Facebook posts and help create online digital diaries. The consumer technology brand of 3i Infotech Consumer Services, eMudhra, launched last week MyMoney, a personal finance management product that allows users track spending and achieve financial discipline.

Similarly, Ohile Technologies, a Kerala-based firm, is selling mobile applications such as stock market and expense trackers to consumers in the United Kingdom, Australia, Germany and Mexico. Bangalore-based Webyog is developing a super fast search for a consumer's online data called Cloud Magic.

As most of the technology firms in India are in the startup mode, it is difficult to estimate the revenue contribution of B2C companies in the Indian software product story. In 2010, the revenues from the overall software product sector to be in the range of $1.81 billion to $1.92 billion, said Browne & Mohan based on the September quarter.

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