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Regional software market may hit US$245m by 2010

Regional software market may hit US$245m by 2010

The region's content management software market will enjoy a five-year compound annual growth rate of 14 percent to reach US$245.3 million before the end of the decade, an industry watcher said yesterday.According to IDC's latest study, the content management software market in the Asia-Pacific - excluding Japan - has yet to take off. It currently accounts for a "very small" slice of the total software market in the region, it added.
The market however grew strongly by 25.1 percent to reach US$127.6 million last year on the back of rapidly increasing demand for digitized information, rising competitiveness, compliance issues, and favorable exchange rates, IDC said.
Australia, Korea, and Asia's emerging economic dynamos - India and China - were the key contributors to growth in 2005, said the industry watcher.
Although Australia and Korea are projected to remain the largest markets for content management software throughout the forecast period, the strongest growth is expected from India, it continued.
"The level of awareness and adoption of content management software varies across the collection of economies in the region. Much depends on the state of development, impacts of globalization, corporate governance efforts, and enforcement of regulations in a country," said Sharon Tan, senior market analyst at IDC's Asia-Pacific Application Tools Software Research.
IDC research indicated that e-forms, work flows, records management, document imaging, e-mail management, and Web content management are features that are gaining enormous traction in terms of investment consideration in this region, Tan said. The top five vendors in the region's content management software market collectively contributed about 43.6 percent of the market last year.


Updated : 2021-10-27 11:56 GMT+08:00