Rising interest rates, slowing economic activity, and a normalization of pandemic-era consumption continue to put pressure on commercial software growth. But despite these pressures, companies are pressing forward with their digital transformation initiatives, indicating that commercial software firms continue to deliver quality solutions and will enjoy sustainable growth in the medium to long term. Despite a short-term slowdown, medium- to long-term demand for global commercial software remains solid; we forecast that spending will experience a 12.3% compound annual growth rate (CAGR) from 2023 to 2027, reaching $1.4 trillion annually in 2027.