Software revenues across UK distribution channels have grown 35 percent year-on-year during the first three quarters of 2012, led by the likes of VEEAM, EMC, Oracle and VMWare.
Revenue growth in the UK far outstrips that in other western European countries, where the average is 11 percent year-on-year growth. Norway came next after the UK with 31.2 percent growth, followed by the Netherlands (19.8 percent) and Denmark (10.6 percent)
The report by market research house CONTEXT shows that, despite a grim economic outlook for much of the western world, healthy growth is possible in the software market at least.
"Cloud and storage services will continue to be in demand amongst enterprises and we expect to see particular growth in cloud solutions for storage," said Alex Mesguich, VP of Enterprise Research at CONTEXT.
"As more companies embrace the benefits and challenges associated with big data, we expect to see continued demand for virtualisation software and cloud storage solutions."
In contrast, however, CONTEXT notes that Microsoft saw a year-on-year decline of 7 percent over the same period. By the close of October 2012 its market share stood at 31 percent, four percentage points down from its position in October last year.
Nonetheless, Microsoft remains the largest Software vendor in terms of distribution revenues, ahead of IBM in second place and VMWare in third.