Thanks mainly to the Beijing Olympics, scheduled during August 8-24, China has been leading the Asia/Pacific (excluding Japan) market for IT applications since last year. Consumer-centric industries such as retail, travel and hospitality in China are investing in tech systems to streamline their business operations to handle the expected consumer rush during the forthcoming sports event.
Plus, strong stockmarkets in China and booming consumer demand are encouraging enterprises to invest more in IT. In 2007, China continued to lead by contributing a whopping 29% to the regional applications market, valued at $6.4 billion.
Released [recently], these are the findings of a study: ?Asia/Pacific (Excluding Japan) Applications 2008-2012 Forecast and Analysis? done by tech market researcher, IDC. The market, the study says, is expected to grow steadily at a five-year compound annual growth rate of 11.6% to reach $11.16 billion by 2012.
?Compliance and risk management will drive demand in content management applications, as enterprises in the region are deploying policies to improve corporate governance,? says Sheila Lam, senior market analyst of Asia/Pacific Enterprise Applications Research at IDC.
The APEJ applications market in 2007 was dominated by enterprise resource process management tools, with 25.2% market share and a value of $1.6 billion. Following closely are content applications, with 21.7% of the market. The service industry applications market was the third largest, with a value of $1.1 billion. The fastest growing market segment is product supply chain applications, with a five-year CAGR of 14.5%, and this segment?s size is expected to grow from $690.4 million in 2007 to $1.4 billion by 2012.
Australia, Korea and India are booming, too.
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