Big Data and analytics, as well as Enterprise applications, are expected to boost spending on software at a compound annual growth rate of about 6% during 2012-2017, according to a report from International Data Corporation (IDC).
The worldwide software market is expected to experience 4.3% growth in 2013, a decrease from the earlier estimated 5.7% year-over-year growth in May, the report revealed.
The report revealed that the Collaborative Applications with Structured Data Management Software and Data Access, Analysis and Delivery applications are expected to grow at 8% during for the forecast period.
IDC Worldwide Software, Services, and Executive Advisory Research senior vice president Henry Morris said leveraging the social dimensions 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 & Analytics solutions, which help enterprises to understand and act on anticipated customer behavior and provide new insights into product reliability and maintenance," Morris added.
Enterprise Applications including CRM, ERM, SCM, and Operations as well as Manufacturing Applications are expected to record 6% CAGR.
IDC enterprise applications and digital commerce research director Christine Dover said 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 for requirements that may have been met using custom applications or manual processes," Dover said.
During the period between 2012 and 2017, Asia/Pacific region with developing regions like Latin America, and Central Eastern, Middle East, and Africa (CEMA) would increase by 8.2% CAGR, while the mature regions North America, Western Europe, and Japan are expected to experience 5.4% rise.
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