- 10 March 2009 09:39
IDC Cites Opportunities for Growth in Key Vertical Markets
Sydney, Australia, 10 March 2009. IDC expects the overall ICT business market in Australia to reach a value of A$46,939 million by 2012, down from the 2008 forecast of A$47,830 million.
In a recent analysis report titled Australia Vertical Markets 2009–2012 Forecast and Analysis, IDC has revised its verticals forecast compound annual growth rate from 4.0% to 3.6% over the period 2008 to 2012.
In tough economic times, the natural inclination for companies is to put major transformational initiatives on hold and focus on tactical optimisation of business operations. "However, in this slow ICT spending environment, it's more important than ever for suppliers to identify and focus their businesses towards key customers, new offerings and new vertical industries that will yield the greatest opportunities in order to make the most of the economic downturn," said Melissa Martin, Senior Analyst, IT Spending and Verticals.
"Suppliers that push too hard on the brakes will not only limit their viability in the long term but also miss key growth opportunities in 2009," she added.
Ranking of the top vertical markets in Australia in 2009 remains unchanged: Banking, Finance and Insurance at A$8,872 million and 21.1% of the business market; Government at A$6,170 million and 14.7% and Communications & Media at A$5,335 million and 12.7%.
However, it is the Government, Education and Construction sectors forecasted to experience the fastest increase in ICT investment in the next few years (with respective CAGRs of 6.1%, 5.0% and 4.7% in the forecast period) as the Government aims to stimulate the Australian economy by increased spending and incentives in these sectors.
The vertical industries that will be the biggest losers in current economic times will be Retail, Transportation & Business Services. A very large part of these industries in Australia produce or sell intermediary goods destined to be consumed by other industries.
For further information on the findings contained in this report or to request an analyst briefing on this topic, please contact Sally Taylor-Phillips, Marketing Communications Manager at IDC on +61 2 9925 2234 or e-mail firstname.lastname@example.org.
For media enquiries please contact Sally Taylor-Phillips, Marketing Communications Manager at IDC on +61 2 9925 2234 or e-mail email@example.com.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends covering over 110 countries worldwide. For more than 44 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com or www.idc.com.au.