OZ Software Market To Hit $10bn

Australia’s total software market was worth $6.95 billion in 2011 – and should hit $9.91 billion in 2016, market researcher IDC has forecast.

Its new report, Australia Software Market 2012-2016 Forecast and Analysis, says the application software market will be for the largest revenue contributor, while the application development and deployment software market is forecast to grow at the highest rate, 9.8 percent CAGR, by 2016

A major growth driver will be “business facing” software, bringing opportunities in the enterprise applications, middleware and database markets.

This reflects pent up demand as a result of budgets diverted towards the refresh of infrastructure, due to the flow-on effects of the global financial crisis, IDC said.