The growth of the enterprise software sector is continuing at a rapid pace, according to a recent study conducted by research firm Gartner.
While the implications of this growth for data security are not yet certain, the growth of software solutions built on a cloud-based model may suggest that companies adopting new platforms should invest in cloud computing security measures.
The study found that worldwide enterprise software revenues hit a total of $244 billion in 2010. This year, total revenues are expected to reach approximately $267 billion, an increase of 9.5 percent.
According to Gartner, growth will continue in 2012 as well, with total worldwide revenues predicted to hit $288 billion.
Growth trends will differ from region to region, according to the study. In North America, enterprise software spending will reach approximately $121.2 billion in 2011, up from $112.9 billion in 2010. Growth is expected to continue at least until 2015, when revenue are expected to reach $158.1 billion.
In emerging economies, some of which were less affected by the global economic crisis, growth is expected to continue, as India, China and Brazil and some other emerging nations build internationally competitive IT infrastructures.
"Overall, emerging markets' growth will slow over the forecast period, but will continue to be faster than those of the developed world," said Yanna Dharmasthira, research director at Gartner. "However, economic growth in almost all the emerging countries is also likely to be affected by the slowing trends in Europe and Japan."
In Western Europe, growth is expected to continue at a similar pace to that in North America. This year, revenues are predicted to reach $78.3 billion, up from $70.3 billion in 2010, Gartner reported.
Growth in the enterprise software market will be accompanied by a shift in the direction of cloud computing. According to a recent IDC study, global spending on public cloud computing services will expand from $21.5 billion in 2010 to $72.9 billion in 2015.