Date:23/06/11
Having recovered from a stagnant year in 2010, the global software market is set to grow by 8.2 per cent and reach $267bn (£165bn) in 2011. This is according to the latest forecast provided by industry analysts Ovum.
Over the next four years, the market will achieve a compound annual growth rate of 7.7 per cent, reaching revenues of $358bn (£222m) as companies use software to tackle huge increases in data and improved enterprise mobility.
"As the global economy continues its recovery, the emphasis on IT investment is moving from the traditional area of back-office automation and transaction processing towards the exploitation of information to add value to the business," said Tim Jennings, Ovum chief analyst."The volume of information within enterprises continues to grow at an astonishing rate, and investment is needed to manage this information and turn it into actionable intelligence, through technologies such as business intelligence and analytics."
Microsoft will continue to dominate the software market in 2011, with a market share of approximately 20 per cent. It is followed by Oracle, IBM and SAP in second, third and fourth place, respectively.However, Ovum indicates that Microsoft's dominance could be challenged in the long term.
"Microsoft is still a major player, with revenues of $62bn (£38bn) in 2010. The company has gained huge mass and velocity over the past 20 years, and this looks set to sustain the company in the short and medium term," said Richard Edwards, Ovum principal analyst.
"However, its level of innovation is not keeping pace with the rest of the market – it is doing just enough to stay in the game, but it is not a star performer." The infrastructure software market will also grow at compound annual growth rate of 8.3 per cent between 2010 and 2015, while applications software will grow at 6.8 per cent for the same period.
Global software market to bounce back in 2011
Having recovered from a stagnant year in 2010, the global software market is set to grow by 8.2 per cent and reach $267bn (£165bn) in 2011. This is according to the latest forecast provided by industry analysts Ovum. Over the next four years, the market will achieve a compound annual growth rate of 7.7 per cent, reaching revenues of $358bn (£222m) as companies use software to tackle huge increases in data and improved enterprise mobility.
"As the global economy continues its recovery, the emphasis on IT investment is moving from the traditional area of back-office automation and transaction processing towards the exploitation of information to add value to the business," said Tim Jennings, Ovum chief analyst."The volume of information within enterprises continues to grow at an astonishing rate, and investment is needed to manage this information and turn it into actionable intelligence, through technologies such as business intelligence and analytics."
Microsoft will continue to dominate the software market in 2011, with a market share of approximately 20 per cent. It is followed by Oracle, IBM and SAP in second, third and fourth place, respectively.However, Ovum indicates that Microsoft's dominance could be challenged in the long term.
"Microsoft is still a major player, with revenues of $62bn (£38bn) in 2010. The company has gained huge mass and velocity over the past 20 years, and this looks set to sustain the company in the short and medium term," said Richard Edwards, Ovum principal analyst.
"However, its level of innovation is not keeping pace with the rest of the market – it is doing just enough to stay in the game, but it is not a star performer." The infrastructure software market will also grow at compound annual growth rate of 8.3 per cent between 2010 and 2015, while applications software will grow at 6.8 per cent for the same period.
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