KM Market to Hit $157 Billion

Global Industry Analysts has released a new research report of the global knowledge management (KM) market which estimates that US $34.17 billion was expended on KM technologies and solutions in 2007. The United States leads the global market with revenues estimated to exceed US $20.6 billion by the end of the year 2008. KM services are estimated to account for about 67.6% of the global knowledge management revenues - an estimated US $31.21 billion in 2008. Worldwide, KM software revenues are projected to grow at a CAGR of 45.3% over the years 2002 through 2010. As knowledge management gains significance, vendors are vying with each other to capture a share of the market. The KM software market is increasingly witnessing the convergence of advanced technologies that deal with the analysis and management of unstructured information. According to Global Industry Analysts, vendors, offering specialized and integrated knowledge management services suites, are expected to enhance their market presence. As the need to acquire advanced technologies increases, vendors aim to expand their product line by acquiring technologies from other vendors. As a result, the market is witnessing increased consolidation activity. Leading players in the worldwide knowledge management market covered in this market research report include Capgemini, Computer Sciences Corporation, Open Text Corporation, IBM Global Services and Interwoven Inc., among others. The report, Knowledge Management: A Global Strategic Business Report, provides in-depth analysis of various factors affecting growth in the market, and reviews global and regional market trends. The report includes coverage of end-use industries, product launches and strategic corporate developments. Market size estimates and projections are presented in terms of revenues in US dollars over the years 2002 through 2010. Long-term projections have been presented for the years 2011 through 2015. Product segments independently analyzed include KM software and KM services. Source: The KNOW Network [Date Added : 11/17/2008 ]