The Nasdaq composite has lost 30.4% year-to-date in the face of consecutive rate hikes. However, amid rapid digitalization, demand for software goods and services is expected to thrive in the coming years.
According to Gartner Inc. (IT), worldwide IT spending is expected to increase 5.1% year-over-year to $4.60 trillion in 2023. Out of that, software spending is expected to rise 11.3% from the prior year to almost $880 billion.
