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CRM and collaboration applications driving software market growth

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9th Nov 2012
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The worldwide software market grew 4.7% in the first half of the year, with CRM and collaborative applications two of the best performing categories.  

According to IDC’s Worldwide Semiannual Software Tracker, the software market has now reached a total size of $167 billion, with the US market representing more than 45% of the overall figure, compared to 27% in Western Europe.
And the CRM sector continues to show robust growth, highlighted by IDC as one of the three best performing fields in the report, with three out of four CRM market segments achieving a double-digit rate in 1H12.
Customer service, marketing and sales had a combined growth rate of over 12%. The only CRM segment that experienced single-digit growth was the contact centre market.
"The CRM applications market experienced a rebound effect in 2011 that is being carried through well into 2012. The 'century of the customer' has centered on increasing customer experience and, powered by social media, is motivating organisations to invest in their customer handling infrastructure. The move to interact with customers when, where, and how they want is changing the go-to-market strategies of many organisations. Technology is now a requirement to be able to deliver consistency at scale," said Mary Wardley, program vice president, CRM applications and customer Experience.
Elsewhere, perhaps unsurprisingly given the growing interest in social business, collaborative applications and enterprise social software also produced strong growth rates.
"Increasingly, companies are thinking of social solutions as decision support and ad hoc work facilitators and are looking for richer features that integrate data and content with people and systems," says Vanessa Thompson, research manager, enterprise social networks and collaborative technologies. "In the new collaborative enterprise, companies are extending asynchronous data and content sharing capabilities to enable collaboration with a broader range of external constituents, including customers, partners, and suppliers."

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