Analysts Ovum predicts that the Australian and New Zealand business software markets will be worth $7.3 billion by 2015 helped by strong growth across all categories.
In a report titled ANZ Market Trends 2010: Business Software Analysis, Ovum said the industry would likely experience a CAGR (compound annual growth rate) of 8.4 percent by the end of the forecast period.
The key drivers for that growth would be business intelligence, business process management, ERP solutions and security.
The information management and security software markets would increase at CAGRs of 11.4 percent and 10 percent respectively.
Ovum technology analyst Sandeep Mishra said Australia was the second largest business software market in the Asia Pacific behind Japan with enterprises adopting a “cautiously optimistic” approach to investment.
“With increasing data complexity and rising security concerns brought about by the growing number of IT platforms, enterprises across ANZ are expected to invest more in information management and security solutions,” Mishra said.
He added that the Australian market presented opportunities for vendors to grow revenues by targeting SMEs in partnership with their channel partners as well as through online sales.
“On-demand solutions are expected to prove cost effective for businesses to manage their entire operations. ANZ is one of the largest markets for SaaS-based solutions in Asia-Pacific, and expected to grow faster than the market for on-premise solutions,” Mishra said.
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