The demand for software products, solutions, and services has been high over the past two years, thanks to the extended remote lifestyle and continuing adoption of advanced technologies, including cloud computing, machine learning, artificial intelligence, cybersecurity, and automation.
Increased global IT spending amid continuing remote work arrangements might drive the growth of the software industry this year. According to Gartner, Inc. (IT), worldwide software spending is projected to reach $614.49 million in 2022, representing a 9.8% year-over-year increase. And U.S. software market revenue is expected to hit $384.50 billion by 2027, growing at a 4.9% CAGR.
