Enterprise IT software market totaled $342 billion in 2012

Enterprise IT software market totaled $342 billion in 2012

April 25

The information technology (IT) industry is experiencing healthy growth thanks to a number of innovative and important solutions. Cloud computing, big data, mobile, social and analytics tools are all playing a key role in many facets of the IT landscape, including the expanding global enterprise software market.

A new IDC report said that the worldwide software market totaled $342 billion in 2012, increasing 3.6 percent compared to 2011. However, this expansion is less than half of what the sector experienced between 2010 and 2011, due largely to the economic landscape, according to Henry Morris, senior vice president for worldwide services, software and executive advisory research at IDC.

“Yet there is strong growth in selective areas. The management and leveraging of information for competitive advantage is driving growth in markets associated with big data and analytics, Morris said. “Similarly, rapid growth in cloud deployments is fueling growth in application areas associated with social business and customer experience. Both these initiatives require a reliable and secure infrastructure, driving investments in security and system/network management.”

Morris explained that these technologies are all directly influencing the Third Platform, which is expected to be an important movement taking place throughout the IT industry for years to come.

Innovative technologies also fueling enterprise IT budgets
In addition to driving the global software market, the likes of big data, mobility, analytics and cloud computing are also impacting enterprise IT budgets. A separate IDC report said that spending among these businesses is projected to total $474 billion in 2013, increasing 6 percent from last year.

Ted Dangson, vice president of IDC’s global technology and industry research organization, said that the economy has had a role in some enterprises not upping their spending, but the overall market still remains healthy. Dangson added that this result is due in large part to the increased adoption of analytics, hosted environments, big data and mobile tools.

Few industries have continued to thrive despite the economic landscape like IT. Executives are clearly embracing solutions like cloud computing, mobile tools, big data and analytics, among others. Decision-makers who do not want to rely on outdated infrastructure any longer should be determining how these options fit within their overall corporate goals. Failing to do so may result in some companies playing catch up with competitors that assert themselves as leaders in their respective fields.

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