Asia-Pacific content management software market to grow at 14.9% till 2008
The content management software (CM) market in APEJ (Asia-Pacific excluding Japan) is expected to grow from $109.42 million in 2003 to $219.28 million in 2008, which represents a 2003?2008 compound annual growth rate (CAGR) of 14.9%. Unsurprisingly, Australia and Korea lead the CM markets in 2003 at $32.4 million and $29.02 million respectively, which may be attributed to their more advance IT infrastructure as well as eGovernment initiatives that were launched since the mid 1990s. Demand in APEJ is generally fueled by both the financial and government sectors; the former seeks to comply with Basel II, reduce costs and to improve customer service levels, while the primary objective of the latter is to reduce costs as well as increase efficiency in order to provide better services to citizens. Many APEJ countries have already made eGovernment their priority project, with Australia, Hong Kong, and Singapore emerging as global leaders in egovernment initiatives. Governments across the rest of Asia/Pacific have also been actively adopting Internet-based technologies as part of their ongoing efforts to develop their own egovernments. These include reaching out to the public with up-to-date information on government portals and deploying Web content management software solutions as well as eforms to increase efficiency.