Consulting firm Ovum has predicted that the ANZ software market will grow just under 5% in 2010.
The figures were reported in the firm’s “ANZ Market Trends 2009: IT software forecast”, but despite the growth forecast, the company said the market will not see pre-recessionary growth levels until the end of 2012 at the earliest. But by the end of the forecast period in 2013, the market will have grown to more than $5.6 billion.
“The ANZ software market did not suffer a huge drop off in the growth during the financial crisis period and these ongoing revenue streams have enabled the major playes o be well-positioned for the predicted upturn,” said Jens Butler, the Principal Analyst on the report.
Ovum said that the ANZ market usually contributes between 2 to 5% of most global software organisations’ revenue, but there is still interest in the region, especially as a test-bed for product and offerings enhancements and partner ecosystems.
“ANZ is currently leading the pack in terms of economic performance and will see further influx of investment going forward, but not reaching pre-recession growth levels before 2012,” Butler said.