IDC Predicts Rapid Software Market Growth

Sep 15, 2009

Based on the online community software market's twofold growth in size in 2008, IDC is predicting that the U.S. online community software market will grow from $278.4 million in 2008 to $1.6 billion in 2013 at a compound annual growth rate of 41.8%. Despite the recession, many of the largest vendors reported double-digit growth rates in 2008 and higher-than-expected growth in the first half of 2009 as the U.S. online community software market doubled in revenue from $135.3 million in 2007 to $278.4 million in 2008 based on the promise of online community software to help organizations deepen relationships with customers and innovate at much faster speeds.