Information management software to top USD37bn by 2015
BUSINESS| Oct. 25, 2011, 9:53 a.m.
The global information management software market will reach revenues of USD37.4 billion in 2015, a compound annual growth rate of 10% from the USD25.5 billion it will reach at the end of 2011, predicts Ovum. However, EMEA growth will not be as strong.
In a new forecast, the independent technology analyst finds that the strong growth will be driven by enterprises realising information management software’s vital role in their corporate performance.
Ovum lead analyst Nishant Singh commented: “The information management market has been growing steadily over the past five years, with enterprises continuing to make investments despite the global recession. However, the next five will see the market really starting to take off, with strong growth across the globe.
“There are several reasons why information management has become increasingly important to enterprises. Chief among them are shrinking business cycles, increasing process and quality control issues brought about by globalisation, and the fact that most organisations have by now extracted the benefits of their ERP implementations.”
According to Ovum’s forecast, although starting from a lower base the Asia-Pacific region will see some of the strongest growth, reaching a CAGR of 11.57% from 2011 to 2015. The North American market will also grow rapidly, with a CAGR of 10.65% for the same period. Meanwhile Europe, the Middle East and Africa will grow by 7.68%.
Singh continued: “Most of the data generated by IT investments has now overgrown the existing systems that were supposed to capture and accurately portray it, driving a strong need for information management tools such as content management and business intelligence systems. These systems enable enterprises to extract content and information hidden in their diverse data sources, manage that data effectively, and apply sophisticated predictive analytics to improve their processes and decision-making.”
According to Ovum, the top three global information management vendors by market share are EMC, SAS and IBM. Singh commented: “While SAS’ revenues are driven to a large extent by its premium pricing, EMC and IBM have drawn on their market presence in storage and infrastructure software to cross-sell their offerings.
MORE BUSINESS NEWS
Building an African Dream: The Wyzetalk journeyEnterprise social networking company Wyzetalk examines the challenges and opportunities it encountered as a startup in Africa. Read More
African organisations under pressure to sharpen skills retention and employee engagementBusinesses across major African economies such as Kenya and Nigeria are coming under increasing pressure to align their strategies for retaining talent, compensating employees and engaging with their workforces with good international practices. Read More
The Workplace of the FuturePhilip Gregory, Senior Regional Executive: Johnson Controls GWS, Middle East & Africa, talks about the workplace of the future, how it will impact the workforce and how businesses can navigate the tension between employee demands and the needs of the corporation. Read More
New MTN boss Ebenezer Asante starts work at MTN Ridge officeThe former Chief Executive Officer for MTN Rwanda Ebenezer Asante has started work on Friday as the new CEO of Ghana’s leading network operator MTN at its plush Ridge Head quarters in Accra. Read More
Tigo Ghana CEO 2nd on Sweden’s list of 75 young and promising womenThe CEO of Tigo Ghana limited, Roshi Motman, has been named as the second most young, promising and prominent female executive on Sweden’s tall list of 75 outstanding women. Read More
Safaricom non-voice revenue, subscriber numbers show strong growthSafaricom has reported a total revenue increase of 13% to Kshs 163.4bn, with non-voice service revenue increasing by 27% to Kshs 68.8bn. Read More
She Leads Africa launches 2015 Entrepreneur ShowcaseThe premier platform for young female entrepreneurs across Africa has launched this year’s competition, with a $15,000 cash prize for the winners. Read More
Africa highlighted as high potential tech marketAfrica’s trade potential has come under the spotlight at the 5th annual DHL Global Technology Conference in Dubai. Read More
Liquid Telecom names new Group Managing ExecutiveWillem Marais has been appointed to the post of Group Managing Executive for Liquid Telecom Group and also joins as the Chief Executive Officer of Liquid Telecom South Africa. Read More
FEATURED STORYThe transformative power of affordable smartphones and unlimited data in Ghana
Smartphones are helping transform their lives of ordinary people in Ghana, Reports Nana Appiah Acquaye.
BEST READ NEWS
IN DEPTHNIMC infrastructure must be managed by credible people: NIMC chief
NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.
COMPANY NEWSMicrosoft, IICD launch employability hub in Ghana
Microsoft Ghana, in partnership with the International Institute for Communication and Development, has launched the TizaaWorks online platform, a one-stop online hub for employability and entrepreneurship.