Accounting applications to generate $586.8 mln in 2009
The market shares for procurement and sales order processing, and inventory management application were 14% and 13% respectively in 2004. The five-year CAGRs for both procurement and sales order processing, and inventory management application functional markets, were two of the highest in terms of ERM solution growth. The 5-year CAGR for procurement and sales order processing application is expected to reach 19% in 2009 to potentially become the second largest functional market segment in the region. China continues to dominate the market with a market share estimated at 36.8% of the total APEJ market in 2004. This is followed by Australia and Korea with approximately 24.1% and 10.7%, respectively. Overall, these three countries contribute close to 72% to the total APEJ market.