Big data, analytics and enterprise applications will continue to drive software spending growth into 2017, according to a new report from IT research firm International Data Corp.
IDC’s latest forecast from its Worldwide Semiannual Software Tracker shows that the compound annual growth rate for the software market in the 2012-2017 forecast period will remain close to 6 percent.
Collaborative applications along with structured data management software and data access, analysis and delivery products are expected to show the strongest growth over the five-year forecast period, with over 8 percent CAGR from 2012-2017.
"Leveraging the social dimensions of the Internet keeps fueling the collaboration growth, much of which is in the form of software as a service,” Henry Morris, senior vice president for worldwide software, services and executive advisory research at IDC, said in a statement.
“This is complementary to the increased attention to big data and analytics solutions, which help enterprises to understand and act on anticipated customer behavior and provide new insights into product reliability and maintenance."
Enterprise applications such as customer relationship management, supply chain management and operations and manufacturing applications show CAGR rates around 6 percent, the firm says.
"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,” Christine Dover, research director, enterprise applications and digital commerce at IDC, said in a statement.
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