Worldwide Software Market to Begin Moderate Growth Recovery in 2003, According to IDC
FRAMINGHAM, MA – OCTOBER 2, 2002 – The worldwide packaged software market will begin slow to moderate growth recovery in 2003, despite current economic difficulties. Continued growth will characterize the software market as it matures within the five year forecast period, generating an average compound annual growth rate (CAGR) of 10-12% by 2006, according to IDC.
"Despite some positive economic indicators, the climate of economic uncertainty has no doubt kept corporate investment lower than it otherwise would be, thereby slowing software market growth," said Tony Picardi, senior vice president of Global Software at IDC. "A slow recovery will begin in late 2002, and we are optimistic about growth opportunities moving forward." According to IDC, applications will remain the strongest and largest primary market in terms of revenue, growing to $131 billion by 2006. Application development and deployment will be the fastest growing markets with a CAGR of 11.5%, exceeding that of system infrastructure and applications.
Growth in North America, Western Europe, Asia/Pacific and Rest of World (ROW) will remain steady with no one region growing more rapidly than the others.
The four top-ranked vendors in the worldwide software market changed from 2000 to 2001. Microsoft, IBM, and Oracle retained their leadership positions, while SAP AG moved into the number 4 slot, displacing Computer Associates (CA).
IDC's annual report, Worldwide Software Market Forecast, Summary, 2002- 2006 (IDC #27982), provides a comprehensive analysis of the worldwide packaged software market for 2001 and a market forecast for 2002-2006. Historical revenue data and worldwide market share for over 1,100 vendors segmented by primary market, geographic region and operating environment is also included.
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