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Kritika Sarmah

2 Software Stocks to Buy in 2022 and Beyond

Microsoft GDDY United States Kritika SarmahHer BCS GoDaddy Inc Microsoft Corporation

Despite several challenges, including geopolitical issues, inflation, and labor shortages, global spending on software is expected to grow at a 10.3% CAGR from 2021 to 2023. This is mainly driven by the cloud and enterprise applications market growth.

Over the years, the software industry has become a stalwart of digital transformation. Revenue in the software market is projected to reach $593.40 billion in 2022. Moreover, revenue is expected to show an annual growth rate of 6.5% during 2022-2027, resulting in a market volume of $812.90 billion by 2027.

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