Continued digital transformation across sectors, increasing use of data-oriented solutions, and hefty investments in cloud-based technologies have helped the software industry grow by leaps and bounds over the past years. “Investment in cloud to modernize legacy applications will drive strong software sales momentum in front- and back-office applications,” according to a Forrester report.
The global software market revenue is expected to grow at a 6.5% CAGR and reach $812.90 billion by 2027. Emphasis on innovative technologies like blockchain, artificial intelligence, and machine learning should boost the industry’s growth.
