Published: 07 August 2024
The worldwide enterprise software market grew at a solid growth rate of 11.1% to $788.1 billion in 2023. CRM, DBMS and security continued to be the largest software markets, with Microsoft, Oracle and Amazon leading in terms of vendor share.
The worldwide software market grew to $788.1 billion in 2023, adding almost $78.8 billion in revenue from 2022. Despite the difficult business environment and macroeconomic headwinds, worldwide spending on software in 2023 registered a growth rate of 11.1%. This solid growth comes from increased investment in analytics, AI or generative AI, cloud-based solutions, and cybersecurity technologies.
CRM continued to be the largest software market with 13.6% share, followed by the DBMS and security software markets with 13.1% and 10.4% share, respectively.
Networking software was the fastest-growing market with a 15.6% growth rate, followed by analytics platform market
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Analysts:
Varsha Mehta, Neha Gupta, Mudit Sharma, Julian Poulter, Chris Pang, Craig Roth, Jim Hare, Balaji Abbabatulla, Kevin Quinn, Radu Miclaus, Shailendra Upadhyay, Colin Fletcher, Lisa Unden-Farboud, Roland Johnson, Alexandre Oddos, Rahul Yadav, Kelli Smith, Brandon Medford, Robin Schumacher, Sharat Menon, John Harrell, Amarendra ., Anand Chouksey, Harshita Chibber, Kanchi Bindal, Umang Dwivedi, Akshita Joshi, Nimit Bali, Arunasree Cheparthi
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