The Asia-Pacific information management software market is expected to generate revenue totaling almost US$3.9 billion by year-end, expanding at a compound annual growth rate (CAGR) of 11.6 percent to hit US$6 billion in 2015, according to a new report from Ovum.
In a statement Monday, the research firm attributed the strong growth to enterprises realizing that information management software was vital to their corporate performance, particularly with shrinking business cycles, increasing process and quality control issues, and the fact that most organizations by now would have reaped the benefits of their ERP (enterprise resource planning) implementations.
The information management market grew steadily over the past five years as enterprises continued investing in this space, in spite of the global recession, said Ovum's lead analyst, Nishant Singh. And in the next five years, the market would "really start to take off" with strong growth globally, he added.
Singh explained that most of the data generated by IT investments had overgrown existing systems that were meant to capture and accurately portray it. Hence, there is now a need for information management software tools, such as content management and business intelligence systems, which allow enterprises to extract information hidden in their diverse data sources, manage data effectively and apply sophisticated predictive analytics to improve their processes and decision-making, he said.
Currently, Asia contributes to around 15 percent of the global information management market, and it will increase slightly to around 16 percent by 2015, Singh told ZDNet Asia in a seperate e-mail interview.
"Although the information market in Asia-Pacific is expected to show the strongest growth in the next four years, it is still small compared to EMEA (Europe, Middle East and Africa) and North America which are expected to show a respectable growth over the next four years too," he pointed out.
According to Ovum, IBM, EMC and SAS were the top three information management vendors in Asia by market share, where they built strong reputations and were "continuously working on enhancing that reputation", either by a strong R&D (research and development) program or aggressive acquisitions.
ZDNet Asia reported in April that businesses in Asia recognized the need to transform their IT processes, but while there was much innovation in infrastructure and facilities, transformation in information management had been slower or lacking.