Forecast Report

Global Commercial Software Forecast, 2023 To 2027

Global Commercial Software Spending Will Grow By 12.3% Annually To Reach $1.4 Trillion In 2027

November 30th, 2023
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
Himank Joshi, null
Himank Joshi
With contributors:
Linda Ivy-Rosser , Liz Herbert , Cindy Liu , Keith Johnston , Michael Kearney

Summary

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.

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