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China software market to approach $13.1B by 2017

Posted: 10 Jul 2013 ?? ?Print Version ?Bookmark and Share

Keywords:software market? BYOD? big data? cloud computing? mobility?

According to the latest report from IDC, China's software market, which reached $7.64 billion in 2012, is forecast to grow to $13.1 billion by 2017, at a CAGR of 11.3 per cent. The market analytics firm expects the entire enterprise application software market to grow at a CAGR of 12.5 per cent in the next five years, on the back of fast-growing software submarkets including human resource management (five-year CAGR of 18.9 per cent), performance management and risk control (5-year CAGR of 15.2 per cent), customer relationship management (five-year CAGR of 14.2 per cent) and supply chain management (five-year CAGR of 13.8 per cent).

The advent of the "Third Platform Era" introduces a new dimension of vitality to China's software industry. IDC sees the four pillars of the Third Platform (big data, cloud computing, mobility and social networks) being gradually integrated into the development of software.

Informatisation, one of the "New Four Modernisations" proposed by the Chinese government, is the driving force behind enterprise transformation in China.

Despite economic uncertainties, large-scaled companies and SMEs continue to steadily increase their software investments, so as to respond in a timely manner to the changing market and enhance their core competitiveness. Domestic and foreign software vendors also launched products or solutions which are integrated with the Third Platform.

IDC finds that cloud computing, social network and mobility are currently being integrated into all levels of software, including system infrastructure software (SIS), application development & deployment (AD&D) and applications.

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