According to the UK Software Market: Trends and Forecasts report by TechMarketView, the sector experienced an 'unprecedented decline' as a result of the recession.
However, the study pointed out the market is still worth more than £8 billion a year and is likely to see revenues maintain healthy growth rates in the years up to 2013.
Noting areas of strong growth, the report explained: 'Cloud computing is a truly structural shift akin to the advent of the PC and client/server in the mid-1980s or the unbundling of IBM mainframe software in the 1960s.'
In addition, TechMarketView predicted that within two to three years, mobile platforms such as Apple's iPad will be increasingly used to access the internet, while software-as-a-service will become the dominant application delivery method within ten years.
Recently, technology analyst Gartner claimed global spending on IT will increase by more than five per cent in the coming year.
However, the study pointed out the market is still worth more than £8 billion a year and is likely to see revenues maintain healthy growth rates in the years up to 2013.
Noting areas of strong growth, the report explained: 'Cloud computing is a truly structural shift akin to the advent of the PC and client/server in the mid-1980s or the unbundling of IBM mainframe software in the 1960s.'
In addition, TechMarketView predicted that within two to three years, mobile platforms such as Apple's iPad will be increasingly used to access the internet, while software-as-a-service will become the dominant application delivery method within ten years.
Recently, technology analyst Gartner claimed global spending on IT will increase by more than five per cent in the coming year.
