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Computer Software Market Report 2008
Key Note Publications Ltd, Aug 2008, Pages: 118
In 2007, the UK market for computer software was worth an estimated £9.75bn — a 7.7% rise in value over the previous year. Computer software has been a growth market since 2003, increasing at an average annual rate of 4.7% and outperforming other business-services sectors.
The market for packaged computer software can be divided into two principal sectors: business software, and leisure and entertainment software. This report subdivides business software into application software and systems software. Leisure and entertainment software refers mainly to games, played on PCs and consoles. While business software experienced steady growth over the period from 2003 to 2007, leisure and entertainment software saw a more erratic rise in sales, with a particular boost in 2007.
The UK computer-software industry is characterised by both global corporations and smaller firms, supported by strong trade associations and an educational environment that produces highly skilled staff. Demand for computer software has been encouraged by a period of sound economic growth, with low unemployment, low inflation and a government that has invested heavily in its pursuit of technological development.
The market is changing, with a large number of acquisitions, mergers and partnerships taking place in recent years. This has enabled the larger software producers to expand horizontally and offer a broader portfolio of products and services. It has presented challenges for smaller producers, which may also be targets for acquisition in the future.
The UK market for computer software will continue to grow in the near future, although at a slower pace than in recent years, mainly as a result of the slowdown in the UK economy. Higher growth rates for business software are likely towards the end of the forecast period. Ongoing projects in industry and government will help to maintain steady growth in investment.
Growing sales of entertainment and leisure software will help to sustain overall growth in the software market. Growth will be higher in the first part of the 5-year period, then will decline as the market matures and third-generation games consoles reach the end of their natural life cycles.
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