Application management market generated $17.9 bln in 2004
According to IDC, approximately $17.9 bln was spent worldwide on application management (AM) services in 2004. The worldwide market is expected to grow at an overall compound annual growth rate (CAGR) of 9.2% and reach $27.2 bln by 2009. Approximately $8.5 bln was spent by US customers on discrete application management services in 2004, and this amount is expected to increase to $11.8 bln by 2009 at a 6.9% CAGR. The Europe, Middle East, and Africa region (EMEA) as well as Asia/Pacific are also expected to grow during this forecast period, however; the growth rate of the Asia/Pacific region will continue to increase throughout the forecast period, while both the Americas and EMEA will experience declining growth rates beyond 2007 as those markets mature.