New research published by IDC has revealed the growing levels of investment in new technologies that is driving improved data management for businesses across the globe.
The worldwide enterprise software market is being bolstered by the massive growth in information that companies are now able to access on a daily basis, with big data analytics now the driving force behind expansion for many firms.
It enables companies to garner a competitive edge over their rivals if they are effectively able to identify market trends and consumer behaviours before their competitors. Therefore, growing levels of investment are being witnessed in software to make this process that much easier.
Overall, market revenues for the global business software industry rose by 5.5 per cent in 2013, bringing the total value of the industry to almost $369 million (£219 million).
Henry Morris, senior vice president for worldwide software, services and executive advisory research at IDC, commented: “Data provides the edge to companies that can leverage their information for competitive advantage – with new products and services, and an enriched customer experience.
“Software for data management, data access and collaborative information sharing continues to lead the growth in the overall software industry.”
Application development and deployment also remains one of the fastest growing sectors in technological investment for businesses at present, while systems infrastructure improvements are also proving popular.
The ability to effectively safeguard sensitive business and consumer information is also an area in which companies continue to prioritise spending, with recent figures published by Symantec showing a 62 per cent increase in the number of data breaches reported by businesses across its Global Intelligence Network during 2013.
Moreover, a 91 per cent upturn in the volume of targeted attacks on both business and personal users was recorded by the company – highlighting the significant efforts criminals continue to go to when it comes to stealing data.
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