Application software market is expected rise 3.7% to reach $166bn in 2012, when compared to 2011, according to new report from IDC.
IDC’s Worldwide Semiannual Software Tracker revealed that the current growth rate, which is the lowest in the past three years, had been an expected result as the market deceleration was projected following periods of high growth after the financial crisis recovery period.
The functional markets are expected to grow high by the end of the year with Customer Service reporting 6.9%, marketing 7.9% rise and sales 6.7% rise on the CRM applications side, while team collaborative applications to report 8.6% rise and enterprise social software about 40.1% growth within the Collaborative Applications markets.
By the end of 2012, financial performance, strategy management and GRC applications are expected to report 8.4% rise in the ERM applications world.
In 2013 Asia/Pacific market for Enterprise Asset Management Solutions is expected to grow 16% while Search and Discovery solutions market is expected to rise by 13.4%.
ERM and CRM solutions are expected to witness growth of about 10.3% and 9.0% respectively in Latin America, while in Central and Eastern Europe, the Middle East, and Africa (CEMA), the Financial Performance, Strategy Management and GRC Applicationsmarket is expected to rise 14.5%.
IDC Software Business Solutions group vice president Michael Fauscette said while the overall worldwide applications market has been affected by the continuing global economic slowdown there are many bright spots as companies respond to the need for increased productivity and a rethinking of all customer related processes.
"Across customer experience supporting applications in the CRM markets to internal social collaborative applications IDC expects solid growth, particularly as companies continue to consume more applications as cloud services and move to get mobile applications into the hands of a large percentage of their employees," Fauscette said.
IDC revealed that Microsoft has topped the list of vendors in the Applications market with 14.4% share followed by SAP, Oracle, IBM, Adobe, Intuit, Siemens, Infor, Salesforce.com, and Dassault Systemes.