Global enterprise software revenue is expected to increase 7.5 percent in 2011, reaching $253.7 billion, as companies look to modernize their application systems, a recent report by Gartner stated.
According to the report, the growth will be driven by enterprise content management software, as well as business intelligence, collaboration, social and supply chain management software. In addition, companies will look to increase their use of Software-as-a-Service, which provides access to enterprise-level solutions at relatively affordable prices.
With the increased prevalence of cloud computing and new ECM offerings from companies such as OpenText, Microsoft and EMC, the enterprise software landscape will continue to shift in the coming years, the report notes. Businesses are increasing their focus on implementing technologies that enable them to promote collaboration between employees and improve overall workflow.
"Fundamentally, this is a journey with no true end," said Tom Eid, Gartner research vice president.
While IT professionals are expected to increase their focus on both cloud and ECM solutions in 2011, the two may not see much overlap. According to a recent CMSWire report, security concerns over the cloud are still hindering its adoption as an ECM solution.