Swedish software market to grow at 5.1% a year

The Swedish software market, currently valued at $2 bln, is expected to grow by a compound annual growth rate (CAGR) of 5.1% between 2003 and 2008, according to IDC. The study also reports, however, that this growth follows a disappointing 2003, when the market declined 1.1%. Vendor performance varied greatly among the top 5 vendors, with Microsoft increasing revenues by nearly 10%, HP by more than 11%, and IBM by 5%. Oracle's revenues declined 17% and SAP's 3%.