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Viva la Verticals! Key to Vendor Growth is Through Vertical Market Opportunities, Says IDC

  • 05 September, 2008 11:05

<p>Sydney, 5 September 2008. A report from IDC reveals that in a bid to find growth opportunities in today’s changing IT environment, vendors are targeting channel partners with vertical experience as well as entirely new market sectors.</p>
<p>The report titled, Australia Vertical Markets 2008-2012 Forecast and Analysis reveals that the ICT market in Australia will grow from A$40,828 million in 2008 to A$47,830 million in 2012 - a healthy CAGR of 4.0%. The report presents a detailed IT forecast of 12 vertical markets in the Australia IT market for the period 2008 to 2012. Market sizes and trends are provided for 2007, and a five-year growth forecast is shown for 2007–2012. This study also identifies the top three business initiatives in each vertical industry and provides guidance to vendors wanting to take advantage of the vertical opportunities available.</p>
<p>"To drive greater growth, vendors have significantly increased their resources and solutions sales focus on the vertical markets. Looking at the IT opportunity and market by vertical is not a new concept, however, many IT vendors have traditionally organised their sales efforts and resources by region. Now, vendors are increasing opportunities through new channel partners as a means to supplement their own, growing verticals capabilities,” says Melissa Martin, Senior Market Analyst, IT Spending and Vertical Markets, IDC Australia.</p>
<p>From an ICT Spending perspective, the top three verticals in 2008 are</p>
<p>·Banking, Insurance and Finance (A$8,688 million)</p>
<p>·Government (A$5,820 million)</p>
<p>·Telecommunications and Media (A$5,090 million)</p>
<p>The study gives vendors an overview of the trends in the enterprise segment of the ICT market. “While the overall spending on ICT is strong, there are great differences from vertical to vertical, and vendors need to have a very good understanding of industry trends, drivers, and spending intentions before they try to sell to various industry sectors,” adds Martin.</p>
<p>The report also reveals:</p>
<p>·The Banking, Insurance and Finance sector is forecast to account for 21.3% of ICT spending in Australia in 2008, followed by Government at 14.3% and then Telecommunications and Media at 12.5%.</p>
<p>·These top three verticals represent 48.1% of the total spending on IT in Australia.</p>
<p>·The smallest vertical is the Construction industry at A$671 million (1.6% of total market.)</p>
<p>This report is now available. To purchase this report, please contact Lady Gueco, Business Development Manager on +61 2 9925 2261 or lgueco@idc.com.</p>
<p>On IDC’s website, www.idc.com, this media release relates to document #AU386101Q, Australia Vertical Markets 2008-2012 Forecast and Analysis.</p>
<p>Melissa Martin has recently joined IDC’s IT Spending and Vertical Markets team. IDC covers a variety of vertical markets including banking &amp; insurance, government, education, utilities, health, retail &amp; wholesale and construction. Melissa is available for analyst briefings and to meet clients. To talk to Melissa send an e-mail to msmartin@idc.com.</p>
<p>Ends</p>
<p>For press enquires please contact:
Melissa Martin
Senior Market Analyst, IT Spending &amp; Vertical Markets, IDC
+61 2 9925 2258
msmartin@idc.com</p>
<p>Sally Taylor-Phillips
Marketing Communications Manager, IDC
+61 2 9925 2234
staylorphillips@idc.com</p>
<p>About IDC</p>
<p>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.</p>
<p>During 2008, IDC is celebrating its 30th birthday in Australia.</p>

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