Forecast Report

Global Software Industry Forecast, 2022

Enterprise Software Continues To Grow At A Healthy Pace Of 12%

August 2nd, 2022
Himank Joshi, null
Himank Joshi
With contributors:
Keith Johnston , Michael O'Grady , Michael Kearney , Ian McPherson

Summary

Enterprise software is on track to grow at a compounded annual growth rate (CAGR) of 12%. Inflationary pressures, higher interest rates, and general slowdown due to geopolitical turmoil are likely to have little impact on software growth. Both infrastructure and application software markets will exceed $400 billion by 2023. Expect an environment with robust demand for security, database management, tech operations management, vertical software, and cloud-based front- and back-office applications.

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