CRM, E-Commerce Solutions To Lead Growth In Enterprise Applications Market
Disruptive technologies such as mobile, cloud computing and social platforms have placed enormous power into the hands of consumers. Faced with the need to meet rising customer expectations but keep costs in check at the same time, companies around the world are betting heavily on CRM and e-commerce applications. According to a new report from Ovum, these will be the fastest-growing segments of the enterprise applications market between 2013 and 2018.
Ovum predicts that the CRM and e-commerce segments will grow at a compound annual rate of about 10% over the specified period. While the focus is on attracting, engaging and retaining customers, business organisations are also keen on innovating, Ovum established. For this reason, the analytics company expects enterprise applications designed to support innovation to be the second fastest-growing segment, with compound annual growth projected at 8%. Examples of such applications include product lifecycle management (PLM) and innovation management platforms.
According to Ovum, innovation will be the primary driver of spending in the manufacturing and healthcare industries. These two verticals are expected to invest the largest amounts in enterprise applications during the period under report. Healthcare operators spent $12.2 billion in 2012 and their investment will almost double by 2018, reaching $22.9 billion. In the manufacturing sector, spending is forecast to rise from $14.6 billion in 2012 to $23.9 billion in 2018.
From a geographic perspective, the strongest growth will be observed across emerging economies, most notably China, India, Brazil, the Middle East and Africa: Ovum sees the annual increase in these markets at between 13% and 16%. Europe and the US are expected to deliver annual growth of 7% to 8% through to 2018.
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