Ovum’s latest report puts the Australian and New Zealand business software market on the verge of a massive growth across all categories. The market is expected to hit $7.3 billion in 2015.
According to Ovum’s new ANZ Market Trends 2010: Business Software Analysis report, the Australian and New Zealand business software market will experience a massive growth over the next years and will hit US$7.3 billion in 2015. Ovum expects the business software market to reach a compound annual growth rate (CAGR) of 8.4% by the end of this period.
“Against a backdrop of slowdown in economic growth, enterprises are following a cautiously optimistic approach to investment in business software. 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,” said Sandeep Mishra, Ovum technology analyst.
According to the report, ANZ business software market will be growing due to an increasing demand for business intelligence, process management and resource planning solutions.
The analysts also expect that information management and data security to be the top priorities for ANZ businesses, with the demand of new technologies being a major trend. Cost control and efficiency are expected to be the two major drivers behind buying decisions.
“Demand for technologies that offer better analytical capabilities and increase mobility factor for users, as well as cost control initiatives laid out by enterprises, are expected to drive growth in ANZ during the next few years,” said Mishra.