Big Data and Analytics and Enterprise Applications Will Continue to Drive Software Market Growth Until 2018, According to IDC
04 Jun 2014
FRAMINGHAM, Mass., June 4, 2014 – International Data Corporation (IDC) today released the latest forecast from the Worldwide Semiannual Software Tracker. For 2014, the worldwide software market is forecast to grow 5.9% year over year in current US dollars (USD). In constant USD the growth rate has been revised to 5.7%, down from the 6.2% year-over-year growth forecast in November 2013. IDC believes that the compound annual growth rate (CAGR) for the 2013-2018 forecast period will remain close to 6%.
Structured Data Management Software, Collaborative Applications and Data Access, Analysis and Delivery solutions are expected to show the strongest growth over the five-year forecast period with a CAGR near 9% from 2013-2018. "Leveraging the social dimension of the Internet keeps fueling the Collaboration growth, much of which is in the form of software as a service. This is complementary to the increased attention to Big Data and analytics solutions, which help enterprises understand and act on anticipated customer behavior and new insights into product reliability and maintenance", said Henry Morris, Senior Vice President for Worldwide Software, Services and Executive Advisory Research.
In the Enterprise Applications category, Customer Relationship Management, Enterprise Resource Management, Supply Chain Management, and Operations and Manufacturing Applications will continue to show CAGR rates around 6%. "Enterprises are starting to implement applications that either didn't exist or weren't needed in the past, such as commerce applications in all industries, not just retail, but also manufacturing, hospitality, food and beverage, and even the public sector. IDC is also seeing applications in categories that didn't exist in the past (e.g., subscription billing, spend optimization, and revenue management) for requirements that may have been met using custom applications or manual processes," said Christine Dover, Research Director, Enterprise Applications and Digital Commerce.
On a regional basis, the emerging economies will continue to experience stronger growth than the mature economies. The average 2013-2018 CAGR for Asia/Pacific (excluding Japan), Latin America, and Central Eastern, Middle East, and Africa (CEMA) is 8.5% while the average CAGR for the mature regions – North America, Western Europe, and Japan – is 5.9%.
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IDC's Worldwide Semiannual Software Tracker provides total market size and vendor share for the seventy-nine segments of the global software market. The Tracker covers more than 800 software vendors across a total of 49 country markets. Historical market size, vendor share, and forecasts are updated on a semiannual basis.
For more information about IDC's Worldwide Semiannual Software Tracker, please contact Kathy Nagamine at 650-350-6423 or firstname.lastname@example.org.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app, available at iTunes, allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. In 2014, IDC celebrates its 50th anniversary of providing strategic insights to help clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.
Big Data analytics and discovery, Collaborative applications, Customer relationship management applications, Data access, analysis and delivery, Enterprise resource management applications, Operations and manufacturing applications, Structured data management software, Supply chain management applications
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